SBA Closing Otsego County Disaster Loan Outreach Center Sept. 21; Still Time to Submit Applications Online

Up to the Minute

From The U.S. Small Business Administration:

ATLANTA – The U.S. Small Business Administration announced today that due to a steady decrease in
activity, the Disaster Loan Outreach Center (DLOC) in Otsego County, New York will cease operations
at 4 p.m. Tuesday, Sept. 21. SBA opened the Centers to provide assistance to businesses and
residents affected by the July 16-19, 2021, Severe Storms and Flooding in New York.
“I encourage anyone who has not completed their disaster loan application to visit the center before
the closing to meet with a Customer Service Representative for one-on-one assistance,” said Kem
Fleming, director of SBA’s Field Operations Center East.
The Center is located and open as indicated below:

SBA Disaster Loan Outreach Center (DLOC)
Otsego County
Morris Fire Department
117 East Main St.
Morris, NY 13808
Last day: Tuesday, Sept. 21, 9 a.m. to 4 p.m.
Closes Permanently: Tuesday, Sept. 21 at 4 p.m.

Applicants have until the filing deadline to submit an application and may apply online using the
Electronic Loan Application (ELA)via SBA’s secure website
at DisasterLoanAssistance.sba.gov/ela/s and should apply under SBA declaration #17163, not the
COVID-19 incident.

Businesses and private nonprofit organizations may borrow up to $2 million to repair or replace
disaster-damaged or destroyed real estate, machinery and equipment, inventory, and other business
assets. For small businesses, small agricultural cooperatives, small businesses engaged in
aquaculture and most private nonprofit organizations, the SBA offers Economic Injury Disaster
Loans (EIDL) to help meet working capital needs caused by the disaster. EIDL Loan assistance is
available regardless of whether the business suffered any physical property damage.

“Loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real
estate. Homeowners and renters are eligible for loans up to $40,000 to repair or replace damaged or
destroyed personal property,” said Kem Fleming, director of SBA’s Field Operations Center East in
Atlanta.

Applicants may be eligible for a loan amount increase up to 20 percent of their physical damages, as
verified by the SBA for mitigation purposes. Eligible mitigation improvements may include a safe
room or storm shelter, sump pump, French drain, or retaining wall to help protect property and
occupants from future damage caused by a similar disaster.

Interest rates are as low as 2.88 percent for businesses, 2 percent for nonprofit organizations,
and 1.625 percent for homeowners and renters, with terms up to 30 years. Loan amounts and terms
are set by the SBA and are based on each applicant’s financial condition.

Businesses and individuals may also obtain information and loan applications by calling the SBA’s
Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the deaf and hard-of-hearing) or
emailing DisasterCustomerService@sba.gov. Loan applications can also be downloaded at
sba.gov/disaster. Completed applications should be mailed to: 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 Nov. 8, 2021. The deadline
to return economic injury applications is June 9, 2022.

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