SBA Disaster Declaration Issued for Westchester County Fire Recovery

Publication Date: 2025/12/18 02:32:43

New York State has secured a Physical Disaster Declaration from the U.S. Small Business Governance (SBA) for Westchester County, and the adjacent counties of Putnam, Rockland, and Bronx.This declaration follows a federal review confirming over $1.8 million in damages to 88 apartments resulting from the november 23, 2025, fire in a Mount Vernon apartment building.

Governor Hochul Announces Federal Relief

“my heart goes out to all those impacted by this tragic fire, and my Administration is committed to supporting the Mount Vernon community as they continue to recover,” Governor hochul stated. “Securing federal relief for New Yorkers affected by the November 23rd fire is vital to helping homeowners, renters, and business owners in this area with their recovery efforts.”

Who is Eligible for SBA Disaster Loans?

The SBA offers low-interest disaster loans to help individuals and businesses recover from the fire. Here’s a breakdown of eligibility and loan limits:

• Homeowners: Up to $500,000 to repair their primary residence. Why this matters: Homeowners often face important financial burdens after a disaster. This loan amount allows for considerable repairs to restore their homes.
• Homeowners and Renters: Up to $100,000 to repair or replace damaged or destroyed personal property. Why this matters: personal property loss can be devastating. This loan helps replace essential belongings.
• Business owners: Up to $2,000,000 for the replacement of real property, inventories, machinery, equipment, and other physical losses. Why this matters: Businesses are the backbone of communities.This loan helps them rebuild and reopen, preserving jobs and economic activity.
• Businesses and Non-Profits: economic Injury Disaster Loans (EIDL) of up to $2,000,000 to provide necessary working capital until normal operations resume. Why this matters: Even if a business doesn’t have physical damage,a disaster can disrupt operations and cash flow. EIDLs provide a financial cushion during recovery.

Understanding Economic Injury Disaster Loans (EIDLs)

eidls are diffrent from physical disaster loans. They don’t cover physical damage, but rather help businesses and non-profits meet their ordinary operating expenses while they recover. This can include things like rent, utilities, and payroll. Why this is crucial: Maintaining operational capacity is crucial for long-term recovery.

Statement from Commissioner Bray

“The State continues to work closely with local officials and our federal partners to ensure impacted residents and businesses have access to the resources they need,” said Division of Homeland Security and Emergency Services Commissioner Jackie Bray.

Key Takeaways

• A Physical Disaster Declaration has been issued by the SBA for Westchester County and surrounding areas.
• Homeowners, renters, and businesses are eligible for low-interest disaster loans.
• Loan amounts vary depending on the type of loss and the applicant’s needs.
• Economic Injury Disaster Loans are available to help businesses with working capital.