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Deadline Alert for New York City Small Businesses for SBA Working Capital Loans Due to April 2019 Apartment Fire

Release Date: 
Monday, February 24, 2020
Release Number: 
20-220 NY 16011
Contact: 
Michael Lampton (404) 331-0333 Michael.Lampton@sba.gov, Matt Coleman (212) 264-7750 Matthew.Coleman@sba.gov

NEW YORK - The U.S. Small Business Administration is reminding businesses in New York City that working capital loans are still available to small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and private nonprofit organizations affected by a Kings County apartment fire on April 3, 2019.

The six-alarm fire that tore through a Sunset Park, Brooklyn apartment complex at 702 44th Street in April 2019 displaced hundreds of residents and impacted countless local small businesses.

“Low-interest disaster loans up to $2 million are still available to small businesses that suffered an economic loss as a result of the disaster.  I strongly urge small business owners and entrepreneurs to apply before the March 24 deadline if they meet the criteria,” said SBA New York District Director Beth Goldberg.

Low-interest disaster loans are available to impacted small businesses located in four of the five boroughs of the City of New York: Brooklyn, Manhattan, Queens and Staten Island. The loans are available at 4 percent for small businesses and 2.75 percent for private nonprofit organizations with terms up to 30 years.

“SBA working capital loans are intended to pay fixed debts, payroll, accounts payable, and other expenses that could have been paid had the apartment complex fire not occurred. To be considered for this assistance, eligible entities need to apply by the deadline,” added SBA Regional Administrator Steve Bulger who oversees the federal agency’s operations in New York State as well as New Jersey, Puerto Rico and the U.S. Virgin Islands.

SBA New York District Director Goldberg urged applicants to apply online using the SBA’s secure Electronic Loan Application (ELA) website at DisasterLoan.sba.gov.

Businesses 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 by emailing disastercustomerservice@sba.gov. Loan applications can also be downloaded www.sba.gov. Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

The deadline to return economic injury applications is March 24, 2020.

 

 


About the U.S. Small Business Administration

The U.S. Small Business Administration makes the American dream of business ownership a reality. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.