Storm-Damaged New York Gets Federal Disaster Loan Access
Published Date: 10/22/2026
Notice
Summary
New York’s Erie County and nearby areas got hit hard by storms and flooding starting September 3, 2026. The government declared a disaster, opening the door for low-interest loans to help homeowners, businesses, and nonprofits recover. You’ve got until December 18, 2026, to apply for physical damage loans and until July 19, 2027, for economic injury loans—so don’t wait!
Analyzed Economic Effects
5 provisions identified: 5 benefits, 0 costs, 0 mixed.
Disaster loans open to homeowners and businesses
Because of severe storms and flooding that began September 3, 2026, the U.S. Small Business Administration declared a disaster for Erie County, New York, and nearby counties and opened applications for disaster loans for homeowners, businesses, and private non-profits. You can apply for physical damage loans through December 18, 2026, and for economic injury (EIDL) loans through July 19, 2027.
Physical damage loan interest rates set
The notice lists the interest rates for physical damage disaster loans: homeowners with credit available elsewhere — 6.000%; homeowners without credit available elsewhere — 3.000%; businesses with credit available elsewhere — 8.000%; businesses without credit available elsewhere — 4.000%; private non-profit organizations (both categories) — 3.625%.
Economic Injury (EIDL) loan interest rates
The notice sets interest rates for economic injury loans: businesses and small agricultural cooperatives without credit available elsewhere — 4.000%; private non-profit organizations without credit available elsewhere — 3.625%.
Declared geographic area listed
The declaration covers Erie County as the primary county. Contiguous New York counties designated as affected are Cattaraugus, Chautauqua, Genesee, Niagara, and Wyoming. Only residents and businesses in these listed counties are identified in this notice as affected for SBA disaster loans.
How and where to apply
You can apply online at the MySBA Loan Portal (https://lending.sba.gov) or in person at locally announced locations. For help, contact SBA disaster assistance customer service at disastercustomerservice@sba.gov or 1-800-659-2955; use 7-1-1 for telecommunications relay services if deaf or hard of hearing.
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