The U.S. Small Business Administration has assigned personnel to a Disaster Loan Outreach Center it has opened at Holmes Elementary School, 195 N. Columbus Ave. in Mount Vernon and will keep open until Jan. 6. It’s designed to help victims of a recent apartment building fire apply for federal aid.
The fire was at 45 Cottage Ave. on Nov. 23 and left more than 100 families homeless. A Federal Physical Disaster Declaration had been issued after a request submitted by Gov. Kathy Hochul on Dec. 12. Westchester County has been designated as the primary disaster area, making Mount Vernon residents and businesses eligible for both Physical Disaster Loans and Economic Injury Disaster Loans (EIDLs).
“These low interest, long-term SBA loans will provide critical financial assistance to help families stabilize their lives and begin the process of rebuilding their future.” said Mayor Shawyn Patterson-Howard of Mount Vernon.
Under the SBA program, renters and homeowners may apply for loans of up to $100,000 to repair or replace damaged personal property, while homeowners may borrow up to $500,000 to repair or replace their primary residence. Small businesses and private nonprofit organizations may apply for up to $2 million to repair or replace disaster-damaged real estate, equipment, inventory, and other business assets.
Economic Injury Disaster Loans are also available to eligible businesses and nonprofits that experienced financial losses related to the fire, even if no physical damage occurred.
The deadline to apply for physical damage loans is Feb. 17 of next year and the deadline for economic injury loans is Sept. 16, 2026.
