NY A03837

Establishes a disaster emergency loan program allowing industrial development agencies to provide loans up to $25,000 to small businesses (50 or fewer employees) affected by state or local emergencies declared by the governor or county executive

Defines "qualified business losses" as structural damage, inventory losses from shipping delays or spoilage due to power outages/forced closures, and revenue losses caused by the emergency

Requires agencies to adopt uniform criteria for evaluating loan applicants, including pre-emergency financial viability, creditworthiness, negative impact from the emergency, proposed use of funds, and job retention efforts

Prohibits businesses from receiving loans from more than one agency per emergency and requires agencies serving the same municipalities to coordinate loan distribution

Exempts deferred or waived interest on program loans from state taxes and requires loan applications to be submitted within 30 days of an emergency's end