Feds offer disaster loans to Brooklyn artists and businesses hit by Red Hook warehouse fire

"Nearly two months after a five-alarm fire tore through a beloved Red Hook warehouse, artists and small business owners who lost decades of work and inventory are finally getting some financial help. Homeowners, business owners and renters are now eligible for low-interest disaster loans of up to hundreds of thousands of dollars, state officials announced Monday. Dozens of businesses sustained major damage from the blaze that began in a Red Hook warehouse in September, totaling more than $9 million in damage, according to a review by the U.S. Small Business Administration."

"The destruction also affected neighboring warehouses used as independent studios by local artists, leaving some unable to access what they describe as their life's work, even weeks after the fire. On Monday, Gov. Kathy Hochul said the state had secured a physical disaster declaration for Kings County, which includes Brooklyn, as well as the contiguous counties of Queens, Richmond and New York. That designation makes residents eligible for affordable loans to begin repairs."

Nearly two months after a five-alarm fire gutted a Red Hook warehouse, dozens of businesses and artists suffered major losses and impaired access to studios and inventory. The U.S. Small Business Administration estimated more than $9 million in damage across affected businesses. The state secured a physical disaster declaration for Kings County and contiguous counties, triggering eligibility for low-interest disaster loans. Homeowners and renters qualify for up to $100,000 for personal property replacement and homeowners up to $500,000 for residence repairs. Businesses and nonprofits can seek up to $2 million for losses and working capital. Applications are available through the SBA website.

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