The Small Business Administration (SBA) has granted a physical disaster declaration for six counties in Western New York. Governor Kathy Hochul, who made the announcement on Tuesday, says the declaration for Erie County and five contiguous counties -- Niagara, Genesee, Wyoming, Cattaraugus and Chautauqua -- follows severe flooding from storms that hit the region on September 3rd. The following groups may be eligible for low-interest 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 million 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 million to provide necessary working capital until normal operations resume after a disaster.
