Lowville Business Seeks SBA Disaster Loans to Recover from Devastating Floods

In the wake of a devastating flash flood that struck Lowville, New York, this summer, one local business is turning to federal assistance to help rebuild and recover. Jeb's Restaurant, a beloved community staple, was forced to close for five weeks due to the extensive damage caused by the July 10th storm. Now, the owners are hoping to secure low-interest loans from the U.S. Small Business Administration (SBA) to refinance their high-interest private and business loans, allowing them to get back on their feet and continue serving the Lowville community.

Unlocking Affordable Financing to Rebuild and Revitalize

Seeking Relief from the Financial Burden of Disaster Recovery

Jeb's Restaurant, a fixture in the Lowville community for years, found itself in a precarious position after the flash floods ravaged the area. The business was forced to close for five weeks, leaving the owners, Emerson Metzler and his team, to grapple with the financial implications of the disaster. To reopen, Metzler had to take out private and business loans, but these came with steep interest rates, adding to the financial strain.

The SBA Disaster Loan Program: A Lifeline for Affected Businesses

In the aftermath of the floods, the U.S. Small Business Administration (SBA) has stepped in to offer a glimmer of hope for businesses like Jeb's Restaurant. The SBA is now accepting applications for disaster loans of up to $2 million, which can be used to replace damaged property, equipment, and machinery. For Metzler and his team, this represents a potential avenue to refinance their high-interest loans into more manageable, lower-interest financing options.

Unlocking Flexibility and Affordability for Repayment

The SBA disaster loans offer a crucial advantage over the private and business loans Jeb's Restaurant had previously secured. Metzler explains, "We hopefully will be able to refinance those high-interest loans into a manageable, lower-interest loan that is much more flexible for repayment." This flexibility and affordability could be the key to Jeb's Restaurant's long-term recovery and sustainability, allowing the business to focus on rebuilding and serving the community once again.

Extending a Helping Hand to Homeowners and Nonprofits

The SBA disaster loan program is not limited to businesses; homeowners and nonprofit organizations in the affected area may also be eligible for assistance. This comprehensive approach to disaster relief ensures that the entire Lowville community can access the resources they need to recover and rebuild, fostering a sense of resilience and unity in the face of adversity.

A Glimmer of Hope in the Aftermath of Disaster

As Jeb's Restaurant and other Lowville businesses navigate the challenges of recovering from the devastating flash floods, the availability of SBA disaster loans offers a glimmer of hope. By providing access to affordable financing options, the SBA is empowering local businesses to rebuild, revitalize, and continue serving their communities. This support could be the key to ensuring that Lowville emerges from this disaster stronger and more resilient than ever before.