Isophoric News · Tuesday, November 3, 2026
SBA disaster loans open to Buffalo and Northtowns residents and businesses hit by the Sept. 3 flooding; physical damage applications due Dec. 18
Homeowners, renters, businesses and nonprofits in Erie County and the neighboring counties of Niagara, Genesee, Wyoming, Cattaraugus and Chautauqua can apply for low-interest U.S. Small Business Administration disaster loans for damage from the Sept. 3 flooding, Gov. Kathy Hochul's office announced Oct. 20 after the SBA granted a physical disaster declaration. The SBA opened a Disaster Loan Outreach Center on Nov. 2 at the Township of Tonawanda Fire Training Facility, 100 Fire Tower Dr., Tonawanda, open weekdays 9 a.m. to 6 p.m. and Saturdays 9 a.m. to 1 p.m., closed Nov. 11 for Veterans Day and closing for good at 5 p.m. Nov. 16, the agency said. Applications for physical damage are due Dec. 18, and for economic injury July 19, 2027. Homeowners can borrow up to $500,000 to repair a primary residence, homeowners and renters up to $100,000 for personal property, and businesses and private nonprofits up to $2 million for physical damage, with Economic Injury Disaster Loans for working capital available even without physical damage, according to the SBA. Rates are as low as 3 percent for homeowners and renters, 3.625 percent for nonprofits and 4 percent for businesses, with terms up to 30 years and no interest or payments for 12 months after the first disbursement, the SBA said. Applications are at sba.gov/disaster, or by phone at (866) SBA-HELP, and walk-ins are welcome at the center, with appointments at appointment.sba.gov. Justin Hofschneider, owner of Wine on Hertel, told WKBW the loans were not a good fit for his business because he did not want to take on debt after paying for the cleanup, and that he had hoped for grants.