Hudson Valley Storm Damage Victims Eligible for SBA Aid

ALBANY—Homeowners and businesses in the Hudson Valley who suffered property damage from the devastating flood event on July 9-10, 2023 can now secure some much-needed financial assistance from the Small Business Administration.

New York Gov. Kathy Hochul announced on May 28 that federal assistance is available to New Yorkers in Ontario, Orange, and contiguous counties who were impacted by last year’s early July flood event. Residents and businesses are now eligible to apply for U.S. Small Business Administration low-interest loans to aid in recovery from the severe weather event that resulted in significant damage to homes and businesses.

“After devastating floods caused extreme damage across New York last July, I'm thankful for the federal assistance that will help relieve New Yorkers and small businesses that have suffered,” Gov. Hochul said. "My administration is working directly with FEMA to ensure our local government partners receive the critical funding they need to recover and rebuild.

The Hudson Gateway Association of Realtors received high praise from local officials, including Orange County Executive Steve Neuhaus, for providing much-needed assistance to the flood victims in the days and weeks following the storm. Almost immediately after the severe weather event, the Hudson Gateway Association of Realtors applied for and was bestowed a $500,000 grant from the National Association of Realtors “REALTOR Relief Foundation" to assist Hudson Valley homeowners who were affected by the devastating storms. In December 2023, HGAR reported that its Realtor Relief Assistance Team distributed a total of $356,079.26 to 209 households and received the New York State Senate Empire Award for its role in the Relator Relief program.

Staff from the New York State Division of Homeland Security and Emergency Services and local government partners conducted a thorough assessment of the damages related to this storm directly after the event, which resulted in Governor’s Hochul request to FEMA for Individual Assistance. Earlier this year, FEMA denied the governor’s request, which makes these SBA loans vital to those seeking recovery, state officials noted.

Homeowners, residents and businesses in Ontario and Orange counties, as well as the contiguous counties of Monroe, Wayne, Seneca, Yates, Steuben, Livingston, Sullivan, Ulster, Dutchess, Putnam, Westchester, Rockland, are now eligible for the SBA loans. SBA loans can be very helpful to eligible parties who need financial assistance to get on the road to recovery following weather-related disasters and other emergencies.

The following groups may be eligible for SBA disaster loans:

Homeowners: up to $500,000 to repair their primary residence.
Homeowners and renters: up to $100,000 to repair or replace damaged or destroyed personal property.
Business owners: up to $2,000,000 for the replacement of real property, inventories, machinery, equipment, and other physical losses.
Businesses and non-profits: Economic Injury Disaster Loans of up to $2,000,000 to provide necessary working capital until normal operations resume after a disaster.

DHSES is working with the SBA to open physical locations for Disaster Loan Outreach Centers (DLOCs) in Ontario and Orange counties to help New Yorkers apply in person for assistance. Starting Wednesday, May 29, Customer Support Representatives will be available to help applicants with applications and to answer questions about the SBA disaster loan program, including a facility in Highland Falls that was scheduled to open yesterday.

Village of Highland Falls Senior Center: 15 Drew Avenue, Highland Falls, NY 10928
Opening Day & Time: Wednesday, May 29, 2024 at 12:00 p.m.
Daily Hours of Operation:
Monday – Saturday: 10:00 a.m. – 6:00 p.m.
Sunday: Closed.
Closing Day & Time: Wednesday, June 12, 2024 at 6:00 p.m.

New Yorkers can find additional information, download applications, and apply online. They may also call SBA's Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov.

Individuals who are deaf, hard of hearing, or have a speech disability, can dial 7-1-1 to access telecommunications relay services.

Completed applications should be mailed to the U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155. The filing deadline to return applications for physical property damage is July 15, 2024. The deadline to return economic injury applications is Feb. 18, 2025.