FR 2024-28273

This notice from the U.S. Small Business Administration (SBA), published on November 26, 2024, announces the administrative declaration of a disaster for the State of New York. The declaration follows severe storms and flooding that occurred on August 18 and 19, 2024. As a result, affected individuals and businesses in New York now have access to disaster loans through the SBA. Applications for loans addressing physical damage have a submission deadline of January 27, 2025, whereas economic injury loan applications have a deadline extending to August 26, 2025. This document predominantly concerns the residents and businesses in Suffolk County, designated as the primary affected area, and Nassau County as a contiguous affected area.

General Summary

The document serves as a formal communication from the SBA, notifying the public of the disaster declaration and providing pertinent deadlines and contact information for loan applications. The notice outlines how to apply for these loans via the MySBA Loan Portal and offers contact details for additional assistance.

Significant Issues or Concerns

There are several points that require attention in this notice:

• Selection Criteria Transparency: The document does not explain why Suffolk County and neighboring Nassau County were selected as the primary and contiguous affected areas. Providing detailed criteria or justification could enhance transparency and public trust in the decision-making process.

• Vague Instructions: The mention of "other locally announced locations" where applications might be submitted lacks clarity. It leaves applicants unsure about where to seek further information at a local level.

• Eligibility Clarification Needed: There is no clear distinction between what constitutes "physical damage" versus "economic injury," which could help applicants determine their eligibility for specific types of loans.

• Localized Support Inadequacies: Contact information is restricted to a national point of contact, potentially overlooking the need for more accessible local assistance, which would likely be more beneficial in navigating the loan application process amid a disaster.

• Lack of Oversight Information: The document does not mention any follow-up actions or audits. Such measures might ensure that the provided funds are allocated effectively and aid in the recovery process.

Potential Public and Stakeholder Impact

The declaration can significantly impact various segments of the public:

• General Public: Residents and business owners directly impacted by the severe weather conditions stand to benefit from financial assistance. The loans aim to help repair and alleviate the economic consequences of damage incurred during the storms.

• Local Communities: Communities in Suffolk and Nassau Counties might experience positive effects as these loans could facilitate more rapid recovery and economic stabilization, though they might also raise concern for residents in other unfunded areas wondering about their own eligibility.

• Transparency and Trust: A lack of detailed criteria for how areas are chosen for aid and the absence of information on the oversight for the use of funds may lead to skepticism about fairness and effectiveness, impacting public confidence in the SBA's process.

• Small Businesses: Businesses might welcome the opportunity for economic injury loans to mitigate financial losses. However, the lack of local contact information may pose initial hurdles for businesses unfamiliar with the SBA's national systems.

In conclusion, while this document aims to provide crucial support to those affected by natural disasters in New York, clarity, transparency, and localized support are areas that warrant enhancement to maximize its effectiveness and assure fairness and accessibility for all impacted stakeholders.