In the wake of last month’s flooding, the Small Business Administration will provide low-interest loans for homeowners, renters, businesses and non-profits in Fairfield, New Haven and Litchfield Counties.
The declaration comes in response to a request Governor Lamont submitted to the SBA immediately after assessments conducted by SBA, state, and local officials determined that the damage from the storm exceeds the criteria necessary to qualify.
Specifically, the loans cover:
- Homeowners: Up to $500,000 to repair their primary residence.
- Homeowners and renters: Up to $100,000 to repair or replace damaged or destroyed personal property.
- Business owners: Up to $2 million to replace real property, inventories, machinery, equipment and other physical losses.
- Businesses and nonprofits: Loans of up to $2 million to provide working capital until normal operations resume.
Businesses like The Visual Brand that were damaged in the September 13 flood, as well as homeowners and renters, can apply for Small Business Administration loans.
The application deadline for physical damage loans is December 1. The application deadline for economic injury loans is July 2, 2027. To apply:
In-person: A temporary, in-person outreach center will open at the Margaret E. Morton Government Center at 999 Broad Street in Bridgeport beginning tomorrow (October 7).
It will operate Mondays through Fridays from 9 a.m. to 5 p.m., Saturdays from 9 a.m. to 1 p.m. Adjusted hours include 9 a.m. to 2 p.m. October 9, and 9 a.m. to 4 p.m. October 20 and 21. It will be closed October 12, and close permanently after October 21.
Online: The MySBA Loan Portal at https://lending.sba.gov allows applicants to apply online, view loan details, check balances, make payments and access statements.
For further assistance, email disastercustomerservice@sba.
