SBA tells Greenfield council it has provided more than $30 million in flood relief loans; application deadline extended

Karim Germy, a public affairs specialist with the U.S. Small Business Administration, told the Greenfield Common Council on Nov. 18 that the SBA has ‘‘exceeded $30,000,000 in funding’’ to survivors of the August floods and storms and is offering low-interest disaster loans to homeowners, renters, small businesses and nonprofits.

Germy said SBA disaster loans include up to $2 million for physical damage to businesses, economic injury disaster loans to cover operating expenses, up to $500,000 for homeowners and up to $100,000 for renters to cover personal property losses. He noted loan terms may include rates around 3 percent, up to 30-year terms and often a one-year payment deferral. ‘‘We have exceeded $30,000,000 in funding from the SBA to the survivors of the flooding and storms,’’ Germy said.

The specialist contrasted SBA lending with FEMA grants, explaining that ‘‘FEMA provides grants’’ while SBA’s role is to offer loans for recovery. Germy said some SBA deadlines extend well into 2026 — he cited a June 11, 2026 deadline for certain business injury filings — and reminded residents that businesses may not realize losses until months after a disaster. He directed survivors to apply at lending.sba.gov and said SBA staff are available locally to help complete applications.

Germy offered printed and digital materials for distribution and follow-up, and said SBA staff would remain in the area under the federal disaster recovery program to assist homeowners, renters, businesses and nonprofits. The presentation concluded with Germy providing contact information and offering to forward materials to the city for posting.

The council did not take a vote on the presentation; Germy’s office will provide outreach materials and application guidance for affected residents and businesses.