$15 Million in Loans Provided to WNY by U.S. Small Business Administration in Wake of December Blizzard

J.M. Lesinski

A shot of Ellicott Creek in Buffalo, New York.Photo byPhoto by J.M. Lesinski

New York State Governor Kathy Hochul recently revealed that roughly $15 million in low-interest loans for New Yorkers hit hardest by Winter Storm Elliott was provided by the U.S. Small Business Administration.

“Western New Yorkers are some of the most resilient people I know, but this storm was devastating by every definition,” Hochul stated of the loans. “My thanks go out to President Biden and the Small Business Administration for offering this much-needed assistance to help New Yorkers get back on their feet, rebuild and recover from this historic storm.”

The SBA loans follow a post-weather disaster dual assessment by Erie county and the New York State Division of Homeland Security and Emergency Services (DHSES) in the wake of Winter Storm Elliott, in which the assistance was unlocked due to the severity of the storm.

“Winter Storm Elliott was a once-in-a-generation storm, bringing extremely dangerous conditions, severe damage to infrastructure, and mass power outages to Buffalo and communities across New York,” remarked New York State Senator Chuck E. Schumer of the loans. “That is why I fought non-stop to ensure that New York’s emergency declaration request was approved by President Biden to bring urgently needed federal assistance to the state, and why I’m proud that the U.S. Small Business Administration has provided more than $15 million in low-interest loans to New Yorker small businesses and residents impacted by the storm. I applaud Governor Hochul’s commitment to providing Western NY and communities across the state hit by Winter Storm Elliott with the relief they need, and I will keep fighting to ensure that all New Yorkers impacted by this tragic storm have the resources they need to rebuild and recover.”

Included in eligible disaster loans groups are up to $200,000 to repair their primary residence for homeowners, up to $40,000 to repair or replace damaged or destroyed personal property for homeowners and renters, up to $2,000,000 for the replacement of real property, inventories, machinery, equipment, and other physical losses for business owners, and Economic Injury Disaster Loans of up to $2,000,000 to provide working capital until normal operations can resume for businesses and nonprofits.

“Winter Storm Elliott devastated families, homes, and businesses across the Western New York community,” New York State Representative Brian Higgins noted of the loans. “Damage assessments and recovery efforts took weeks and months, and today our community continues to mourn the lives lost during this once in a generation storm. Support from the U.S. Small Business Administration built on the disaster relief funds provided by FEMA, allowing Western New Yorkers in greatest need to access the financial resources needed to address the storm damage impacting their homes and livelihoods. Thanks to these localized federal efforts our community has been able to focus on rebuilding, recovering, and healing together.”

This is original content from NewsBreak’s Creator Program. Join today to publish and share your own content.

Comments / 0

Published by

I have worked as a professional journalist for over five years now, covering the arts, music, food, politics, and culture up and down both coasts of the United States. I have a B.A. in English from SUNY Fredonia with minors in Psychology and Creative Writing, as well as an M.F.A. in Creative Writing from California State University, Fresno.

Buffalo, NY

More from J.M. Lesinski

Comments / 0