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SBA Launches Disaster Loans for Storm-Hit New York Businesses

9/2/2025

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Summary

Story summary

The U.S. Small Business Administration (SBA) initiated a federal disaster loan program for businesses impacted by severe storms in New York since June 22, 2025.
Businesses can apply for loans up to $2 million for repairs; homeowners may receive up to $100,000 for personal property.
Additional funds are available for future storm risk mitigation.
Documentation requirements and sector exclusions, such as agriculture, pose challenges for applicants.
For details, visit sba.gov/disaster.

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Story summary

The U.S. Small Business Administration (SBA) initiated a federal disaster loan program for businesses impacted by severe storms in New York since June 22, 2025.
Businesses can apply for loans up to $2 million for repairs; homeowners may receive up to $100,000 for personal property.
Additional funds are available for future storm risk mitigation.
Documentation requirements and sector exclusions, such as agriculture, pose challenges for applicants.
For details, visit sba.gov/disaster.