By Forum Staff
Eligible residents and businesses in Manhattan, Brooklyn, Queens, and Staten Island affected by the significant flash flooding event on Sept. 29, 2023, may now apply for low-interest disaster loans from the U.S. Small Business Administration. The filing deadline to submit applications is Feb. 2, 2024 for physical damage, and Sept. 4, 2024 for economic injury.
For more information and to apply, visit the SBA Disaster Loan Portal at https://lending.sba.gov/.
What types of disaster loans are available?
Business Physical Disaster Loans – Loans to businesses to repair or replace disaster-damaged property owned by the business, including real estate, inventories, supplies, machinery and equipment. Businesses of any size are eligible. Private, non-profit organizations such as charities, churches, private universities, etc., are also eligible.
Economic Injury Disaster Loans – Working capital loans to help small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private, non-profit organizations of all sizes meet their ordinary and necessary financial obligations that cannot be met as a direct result of the disaster. These loans are intended to assist through the disaster recovery period.
Home Disaster Loans – Loans to homeowners or renters to repair or replace disaster-damaged real estate and personal property, including automobiles.
Assessing and repairing future flood damage:
- When surveying flood damage in a building look out for mold, any newly formed cracks along the wall, and signs of foundation damage including bulging walls.
- Heavy flooding can have a significant effect on the structural stability of outdoor structures such as decks, porches and retaining walls. Take extra precaution near these outdoor structures, due to the potential for collapse.
- Flooding can also cause the soil around buildings to shift. Be cautious of sink holes forming on your property, especially near septic systems. Avoid areas around large trees if the surrounding soil is soft.
- Owners who want to reoccupy residences damaged by flooding should first hire a New York State-licensed Registered Architect or Professional Engineer to assess the building’s safety. If the building is not safe to occupy, the owners should seek alternative housing arrangements while repairs are made. Owners should take pictures of all damage and flood impacts and keep receipts for all repairs if they intend to apply for disaster assistance or to make an insurance claim.
- Extensive repair work in a building may require the services of a registered contractor as well as NYC Department of Buildings-issued work permits. Electrical wiring repairs will require the services of a licensed electrician. Gas plumbing system repairs will require the services of a licensed plumber. Check the license status of these construction professionals here: nyc.gov/site/buildings/property-or-business-owner/know-your-construction-professional.page
- Before starting any major repairs at your building, contact a construction professional or the Department of Buildings.
- To make repairs, owners need to work with an engineer or architect who has the necessary City-authorized permits. The City advises residents to obtain two or three quotes from different contractors before beginning the work, which can vary widely in price depending on various field conditions. If an owner needs assistance with applications for permits, they should contact 311 (212-639-9675 for Video Relay Service, or TTY: 212-504-4115).
- Licensed Master Plumbers performing emergency work to address a hazardous situation, restore essential services, and maintain sanitary conditions, have the ability to file an Emergency Work Notifications with the department online at nyc.gov/site/buildings/industry/laa-emergency-notice.page, which allows them to start repairs immediately with no wait time from the Department of Buildings. The plumber can then submit the paperwork for any required permits with the department after the job is already completed.
