Low-interest loans available for people affected by flooding from Tropical Storm Fred
ROCHESTER, NY (WHEC) – The Small Business Administration (SBA) is providing low-interest loans to residents of Steuben, Livingston, Ontario and Yates counties affected by flooding from Tropical Storm Fred.
The storm occurred from August 18 to 19.
The loan can be used to help pay for repairs, even if they are complete or in progress. They can also be used to pay off higher interest rate loans or credit card charges used to pay for repairs.
Residents and businesses can get up to $200,000 for damaged real estate and up to $40,000 for damaged personal property.
Interest rates are as low as 2.855% for businesses, 2% for nonprofits, and 1.563% for homeowners and tenants, with terms up to 30 years.
The SBA also opened a Disaster Loan Awareness Center inside Woodhull Town Hall in Steuben County. It is located at 1585 Academy St. Its hours of operation are 9 a.m. to 6 p.m. Monday through Friday and 8 a.m. to noon on Saturday. The center will be open until Thursday, February 10 at 4 p.m.
Completed applications should be returned to the center or mailed to:
US Small Business Administration,
Processing and Disbursement Center,
14925 Kingsport Road, Fort Worth, TX 76155.
The deadline for filing property damage claims is March 21, 2022. The deadline for returning economic injury claims is October 20, 2022.