From the U.S. Small Business Administration:

WASHINGTON – Otsego County businesses and residents affected by severe storms and flooding on
July 16-19, 2021 may apply for low-interest disaster loans from the U.S. Small Business Administration,
SBA Administrator Isabella Casillas Guzman announced today.

Administrator Guzman made the loans available in response to a letter from New York Gov. Kathy
Hochul on Sept. 8, 2021 requesting a disaster declaration by the SBA. Businesses and residents in the
declared area can now apply for low-interest disaster loans from the SBA.

The declaration includes Otsego County and the adjacent counties of Chenango, Delaware, Herkimer,
Madison, Oneida, Montgomery and Schoharie in New York.

SBA’s mission-driven team stands ready to help Otsego County’s small businesses and residents
impacted by the severe storms and flooding,” said Administrator Guzman. “We’re committed to
providing federal disaster loans swiftly and efficiently, with a customer-centric approach to help
businesses and communities recover and rebuild.”

To assist businesses and residents affected by the disaster, the SBA will open a Disaster Loan Outreach
Center (DLOC) in Otsego County on Tuesday, Sept. 14 at noon as indicated below:

SBA Disaster Loan Outreach Center (DLOC)
Otsego County
Morris Fire Department
117 East Main St.
Morris, NY 13808
Opening: Tuesday, Sept. 14, noon – 6 p.m.
Hours: Monday – Friday, 9 a.m. – 6 p.m.
Open: Saturday, Sept. 18, 10 a.m. – 2 p.m.
Closed: Sunday
Closes Permanently: Friday, Sept. 24 at 4 p.m.

Customer Service Representatives will be available at the DLOC to answer questions about the disaster
loan program and help individuals complete their applications. Due to the ongoing COVID-19 pandemic,
the SBA has established protocols to help protect the health and safety of the public. All visitors to the
DLOC are encouraged to wear a face mask.

“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,” said SBA’s Syracuse District Director Bernard J. Paprocki.

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

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.
Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at and should apply under SBA declaration #17163, not for the
COVID-19 incident.

Disaster loan information and application forms may also be obtained by calling the SBA’s Customer
Service Center at 800-659-2955 (800-877-8339 for the deaf and hard-of-hearing) or emailing Loan applications may be downloaded at
Completed applications should be returned to the center or 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.