NY S09507

Authorizes agencies to provide loans and grants to small businesses (with no more than 50 employees) to address qualified business losses resulting from state or local emergencies.

Defines qualified business losses as damage to business structures, inventory losses from shipping delays or power outages, and revenue losses caused by the emergency.

Establishes a maximum loan amount of $25,000 per loan with a total cap of $25,000 per business across all agencies during each emergency.

Requires agencies to adopt uniform criteria for evaluating applicants, including financial viability, creditworthiness, job retention plans, and negative impact from the emergency.

Mandates agencies maintain records of all loans issued and report data annually, while exempting deferred or non-charged interest from state taxes for eligible entities.