Small businesses, nonprofits and individuals in Nassau County and New York City impacted by severe storms and flooding on May 20 may qualify for low-interest federal disaster loans through the U.S. Small Business Administration (SBA).

The SBA is opening a Disaster Loan Outreach Center on Tuesday, 10 a.m. in Queens at Council Member Linda Lee’s office at 73-03 Bell Boulevard in Oakland Gardens, on the Nassau border. There, SBA representatives will be available to answer questions about its disaster loan program, explain the application process and assist in completing applications.

“Any small business, private non-profit, or resident effected by the May 20 severe weather and flooding are eligible to apply for business physical disaster loans – and they may borrow up to $2 million to repair or replace disaster-damaged or destroyed real estate, machinery and equipment, inventory and other business assets,” SBA Regional Administrator Matt Coleman said in a news release about the disaster loans.

“Homeowners and renters are eligible to apply for home and personal property loans and may borrow up to $100,000 to replace or repair personal property, such as clothing, furniture, cars and appliances,” Coleman added. “Homeowners may apply for up to $500,000 to replace or repair their primary residence.”

Coleman and SBA Metro New York District Director John Mallano are expected at the center on Tuesday at 1 p.m.

SBA’s Economic Injury Disaster Loan (EIDL) program is available to small businesses, small agricultural cooperatives and nonprofits with financial losses directly related to the disaster. The SBA does not provide disaster loans to agricultural producers, farmers or ranchers, except for small aquaculture enterprises.

EIDLs provide working capital for disaster-related needs, even when there is no physical damage. Funds may be used to cover fixed debts, payroll, accounts payable and other expenses that could not be paid because of the disaster.

Interest rates are as low as 4% for businesses, 3.625% for private nonprofit organizations, and 2.875% for homeowners and renters, with terms of up to 30 years. Interest does not begin to accrue, and payments are not due, until 12 months from the date of the first loan disbursement. Loan amounts and terms are set by the SBA based on each applicant’s financial condition.

“Applicants may also be eligible for a loan increase of up to 20% of their physical damage, as verified by SBA, for mitigation purposes,” Mallano said in the news release.

“Eligible mitigation improvements include strengthening structures to protect against high wind damage, upgrading to wind rated garage doors, and installing a safe room or storm shelter to help protect property and occupants from future damage,” Mallano said.

The SBA issued a federal disaster declaration in response to a request from New York Gov. Kathy Hochul.

The Disaster Loan Outreach Center is open Monday, Wednesday, and Friday from 9 a.m. to 5 p.m., and Tuesday and Thursday from 9 a.m. to 7 p.m. It closes permanently at 5 p.m. on Tuesday, July 21.

Walk-ins are welcome, though in-person meetings can be scheduled online at appointment.sba.gov.

To apply online, visit sba.gov/disaster

Physical property damage applications must be submitted by Aug. 31, 2026. Economic injury applications are due by March 30, 2027.