Federal loans available for those affected by the July floods

SAND LAKE, NY (NEWS10) – Help is on the way for businesses and residents who were affected by flooding in Rensselaer County in July.

“This is the first time I’ve experienced it and I don’t want to experience it again,” said Ronnie Daniel, an employee of a Sand Lake company.

The Small Business Administration (SBA) grants low-interest loans after Governor Hochul asked the office for a declaration of physical disaster.

“It’s hard to be able to finance a disaster on your own. So hopefully SBA disaster loans are the recovery answer for many businesses, homeowners and tenants, ”said Kathy Cook, public affairs specialist.

Despite the name, Cook said landlords and tenants can also request money, but time is running out to send in requests. The deadline is November 8.

“The biggest problem is the reluctance to apply. Most people are reluctant to take out a disaster recovery loan, ”Cook said.

“You wouldn’t think you have to worry about tropical storms here at Averill Park, but hopefully it’s the worst we’ll ever see,” said business owner James Lilly.

Lilly said the impact to his business was small, but that he is worried about damage from future flooding which is just another unpredictable issue that restaurants in the area will have to worry about.

“Not only are we dealing with personnel issues, but COVID is destroying the supply chain for us here in restaurants. So now they have that on top of everything they have to deal with too, ”Lilly said.

There is an in-person location where applicants can meet with an SBA representative in the town of Sand Lake. They meet with applicants until September 24 at 8428 NY Route 66, Averill Park 12018.

A representative can also be reached at 800-659-2955.

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