SBA opens flood-loan applications for 3 Connecticut counties

Eligible homeowners, renters, businesses and nonprofits affected by the Sept. 13 flooding can apply for U.S. Small Business Administration disaster loans in three Connecticut counties and five New York counties. Physical-damage applications are due Dec. 1, 2026; applications for economic-injury loans are due July 2, 2027.

The SBA issued the administrative disaster declaration on Oct. 2. Its notice, published in the Federal Register on Oct. 6, identifies Fairfield County as the primary county in Connecticut, with New Haven and Litchfield counties also covered. Dutchess, Nassau, Putnam, Suffolk and Westchester counties in New York are listed as contiguous counties.

Loan limits depend on the type of loss

Connecticut Gov. Ned Lamont’s announcement lists maximum loan amounts by applicant and purpose. These are ceilings, not guaranteed awards: applicants must meet SBA eligibility and approval requirements.

The physical-damage deadline applies to applications for damage to homes, personal property or business property. The separate economic-injury deadline gives eligible businesses and nonprofits until July 2, 2027 to apply for that loan category. The two dates are not interchangeable.

The Federal Register notice also sets interest rates by loan category. For physical-damage loans, the listed rates for homeowners are 6% for applicants with credit available elsewhere and 3% for those without it. For businesses, the rates are 8% and 4%, respectively. Private nonprofits have a listed physical-damage rate of 3.625%, whether or not they have credit available elsewhere.

For economic-injury loans, the notice lists a 4% rate for businesses and small agricultural cooperatives without credit available elsewhere, and 3.625% for private nonprofits without credit available elsewhere. Rates and eligibility depend on the category and applicant; the notice does not state one rate that applies to everyone.

Online applications and Bridgeport assistance

Applicants can use the MySBA Loan Portal. Connecticut also announced an in-person Disaster Loan Outreach Center at the Margaret E. Morton Government Center, 999 Broad St. in Bridgeport. The center began operating Oct. 7 and was expected to close at 4 p.m. Oct. 21.

The governor’s announcement lists the center’s hours as 9 a.m. to 4 p.m. on Oct. 20 and 21 and says hours vary on some dates. The Connecticut Insurance Department advised people to check with the SBA for current hours or schedule changes before visiting.

The declaration makes applications available to eligible applicants in the counties named in the federal notice; it does not mean every resident or business qualifies or will receive a loan. Applicants should identify whether they are seeking help for physical damage or economic injury and use the corresponding deadline.