Businesses in Onondaga and other upstate counties can apply for disaster loans for revenue lost during heavy rain, high wind, and icing events in 2025. The Small Business Administration approved a number of weather events for Economic Injury Disaster Loans.
Oswego, Madison and Cayuga counties are also included. Small firms, agriculture cooperatives, and private not-for-profits can apply. Funds can be used to pay debts incurred because of lost business, payroll, accounts payable or other bills that could not be paid due to disasters.
The loan amount can be up to $2 million with interest rates as low as 4% for small businesses and 3.625% for PNPs, with terms of up to a maximum of 30 years. Interest does not accrue, and payments are not due until 12 months from the date of the first loan disbursement. The SBA sets loan amounts and terms based on each applicant’s financial condition.
Applications have to be in by December. Applicants can call (800) 659-2955 or email disastercustomerservice@sba.gov.
