ALBANY, N.Y. (WETM) — Residents and business owners in counties across the Southern Tier will soon be able to apply for low-interest loans to help repair damages left by Tropical Storm Fred.

Governor Hochul announced that the U.S. Small Business Administration will make low-interest loans available to homeowners and businesses in Steuben, Chemung, Schuyler, Yates, Ontario, Allegany, and Livingston County.

SBA loans are often helpful when eligible homeowners, renters, businesses, and others need financial support following emergencies or weather-related disasters.

“Tropical Storm Fred had a devastating impact on the residents of Steuben County – impacts still being felt today,” Governor Hochul said. “While FEMA’s refusal to grant the county Individual Assistance was beyond disappointing, these low-interest loans from the U.S. Small Business Administration will be key in helping residents and businesses get back on their feet as quickly as possible.”

Following the event, staff from the New York State Division of Homeland Security and Emergency Services and Steuben County conducted a thorough assessment of the damages related to this incident.

This assessment confirmed major damage occurred to 38 homes and 14 businesses totaling $1,073,000 and $1,050,000, respectively, and minor damage to 84 homes and 12 businesses/non-profits totaling $700,000 and $185,000, respectively.

The following groups may be eligible for help from SBA disaster loans for the following:

  • Homeowners: up to $200,000 to repair or replace damaged or destroyed real estate
  • Homeowners and renters: up to $40,000 to repair or replace damaged or destroyed personal property
  • Business owners: up to $2 million for the replacement of real estate, 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

Interest rates can be as low as 1.563 percent for homeowners and renters, 2.00 percent for non-profit organizations, and 2.855 percent for businesses with terms of up to 30 years.

SBA has opened a Disaster Loan Outreach Center (DLOC) to help survivors apply. Customer Support Representatives are available to assist applicants with completing the application as well as answer questions about the SBA disaster loan program.

Disaster Loan Outreach Center can be found at 1585 Academy Street inside the Woodhull Town Hall, Woodhull, N.Y.

The opening date for applications can start on Tuesday, Jan. 25 from 11 a.m. to 6 p.m. Further days of operation will be Monday-Friday, 9 a.m. to 6 p.m., and on Saturday 8 a.m. to noon.

The center will permanently close on Thursday, Feb. 10, at 4 p.m.

Applicants may call SBA’s Customer Service Center at (800)-659-2955 or sent an email to, paper loan applications may be downloaded on the SBA website. Completed applications can be mailed to U.S. Small Business Administration, Processing and Disbursement Center at 14925 Kingsport Road, Fort Worth, TX, 76155.