On May 11, the Small Business Administration (SBA) Office of Disaster & Recovery Resilience announced the availability of low-interest federal disaster loans to small businesses and private nonprofit (PNP) organizations in New York to offset economic losses caused by freeze, ice floes, and tidal surge incidents between Jan. 26 and February 23. Suffolk, Nassau, and New York City counties are all eligible. The Declaration Number is NY-20032, and the filing deadline is Dec. 21, 2026.
Under this declaration, the SBA’s Economic Injury Disaster Loan (EIDL) program is available to eligible small businesses, small agricultural cooperatives, and PNPs–including faith-based organizations—with financial losses directly related to this disaster. The SBA is unable to provide disaster loans to agricultural producers, farmers, or ranchers, except for aquaculture enterprises. EIDLs are available for working capital needs resulting from the disaster and can be used even if the small business or PNP did not suffer any physical damage. The loans may be used to pay fixed debts, payroll, accounts payable, and other bills that could not be paid due to the disaster.
“Through a declaration by the U.S. Secretary of Agriculture, SBA provides critical financial assistance to help communities recover,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “We’re pleased to offer loans to small businesses and private nonprofits impacted by these disasters.”
The loan amount can be up to $2 million, with interest rates as low as 4% for small businesses and 3.625% for PNPs, and terms of up to 30 years. Interest does not accrue, and payments are not due until 12 months after the first loan disbursement. The SBA sets loan amounts and terms based on each applicant’s financial condition. To apply online, visit sba.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.
The U.S. Small Business Administration helps power the American dream of business ownership. The SBA is the go-to resource and voice for small businesses, backed by the federal government. We help entrepreneurs and small business owners start, grow, expand, 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 http://www.sba.gov.
