- Associated Press - Tuesday, May 12, 2015

ALBANY, N.Y. (AP) - New York businesses affected by last year’s flooding could be qualified for disaster loans.

Sens. Charles Schumer and Kirsten Gillibrand on Monday announced that businesses hit by flooding from April 1 through July 8, 2014 can apply for the low-interest Small Business Administration loans.

The loans of up to $2 million can be used to pay fixed debts, payroll and other bills resulting from the flooding. The interest rates are 2.6 percent for private nonprofit organizations and 4 percent for small businesses. The loans can be paid over 30 years.

The SBA will accept applications for emergency federal loans through May 26.


Copyright © 2019 The Washington Times, LLC.

The Washington Times Comment Policy

The Washington Times welcomes your comments on Spot.im, our third-party provider. Please read our Comment Policy before commenting.

 

Click to Read More and View Comments

Click to Hide