Schumer, Gillibrand Urge The Small Business Administration To Be Ready To Swiftly Approve Disaster Declaration For Southern Tier And Finger Lakes Counties That Were Severely Impacted By Last Month's Flooding

Press Release

U.S. Senators Charles E. Schumer and Kirsten Gillibrand today urged the Small Business Administration (SBA) to be ready to swiftly approve any forthcoming requests from New York State for federal support in light of the severe flooding in communities across the Southern Tier and Finger Lakes, if the damage assessment meets the federal threshold. Specifically, Schumer and Gillibrand wrote to SBA Administrator Maria Contreras-Sweet following a tour done by SBA officials in the region to perform a survey of the damage. If a disaster caused physical damage to 25 homes or business structures in excess of 40% of the uninsured value, the state can apply to the SBA a Disaster Declaration. Once awarded, the SBA can offer low-interest loans to renters, homeowners, and businesses to make repairs, replace household items, or clean up debris in the designated counties and in any contiguous counties.

"Severe flooding has damaged roads, destroyed homes and wreaked havoc on businesses in Tompkins County and throughout the Southern Tier and Finger Lakes Regions. That is why it is absolutely critical we get federal resources on the ground as soon as possible, so that Tompkins County and the other impacted counties and communities can recover and rebuild after this severe weather," said Schumer. "So we want the SBA to stand ready to approve a federal disaster declaration and provide all forms of available aid for impacted municipalities, farmers homeowners and businesses. This federal disaster assistance is necessary because it will give reassurance to our communities that the federal government will be there to help respond and recover."

"These SBA disaster loans are a welcome and necessary relief for many homeowners and the businesses in the Southern Tier and Finger Lakes that were hurt by the significant damage caused by the flooding last month," saidSenator Gillibrand. "These funds will help give a significant boost to the recovery efforts in the region and help everyone in the area get back on their feet."

Severe flooding occurred the night of Sunday, June 15, and some communities remained in a state of emergency through the following day. Schumer and Gillibrand said affected communities received more than four inches of rain over the course of twenty-four hours. Significant flooding forced some residents to evacuate their homes, destroyed personal property, and caused structural damage to homes and businesses. While checking on residents in Newfield in Tompkins County, firefighters realized that the last road in or out had been flooded, and were forced to evacuate more than twenty people, who were taken to a shelter at the local high school. Numerous roads and bridges still remain closed.

In the event an SBA declaration is requested and approved, the SBA can provide qualified recipients with low interest loans up to $40,000 to renters and homeowners to replace personal property, $200,000 to homeowners to repair, replace, or clean up damaged homes, and up to $2 million to business owners to repair damaged businesses. Interest rates are set quarterly but currently can be as low as 2.188% for homeowners and as low as 4% for businesses.

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