Sherrill announces SBA disaster loans for Belleville fire victims
Governor Mikie Sherrill secured federal Economic Injury Disaster Loans for businesses and nonprofits damaged by the May 3, 2026 warehouse blaze in Belleville Township.
Small businesses and private nonprofit organizations affected by a major warehouse fire on Cortlandt Street may now apply for low-interest federal disaster loans. Governor Mikie Sherrill announced on June 17 that the U.S. Small Business Administration has approved her request for a formal disaster declaration.
The SBA issued this authorization following an on-site damage assessment of the area impacted by the May 3, 2026 fire in Belleville Township. Regional Administrator Matt Coleman stated that these loans are designed to help small business owners rebuild and recover so they can continue their ventures which support their families.
Governor Sherrill emphasized that resources will be made available for qualifying entities impacted by the devastating fire to support their recovery efforts. She noted that this type of financial support can serve as a lifeline for struggling small businesses in the district following such a significant event.
Federal loan terms and eligibility details
The disaster declaration covers Essex County along with the adjacent counties of Bergen, Hudson, Morris, Passaic, and Union. Small businesses and nonprofit organizations located within these specific counties that suffered substantial economic injury from the fire may be eligible for working capital loans.
Loan amounts can reach up to $2 million depending on the financial condition of each applicant. Interest rates are set as low as 4% for small businesses and 3.625% for private nonprofit organizations, with repayment terms extending up to 30 years.
The SBA tailors both loan amounts and specific repayment terms based on the individual situation of every single applicant who applies through this program. Interest does not accrue during a grace period, and payments are not due until 12 months after the first loan disbursement occurs.
Local recovery center opens at library
SBA customer service representatives were made available as of June 16 to assist applicants directly from a Business Recovery Center. This temporary office is located inside the Belleville Public Library at 221 Washington Ave., where staff can answer questions about the disaster loan program.
Representatives at this center will explain the application process and help businesses and nonprofit organizations complete their paperwork for federal assistance. The recovery center operates Monday through Friday from 9 a.m. to 5 p.m. and on Saturdays from 9 a.m. to 1 p.m.
These in-person services are scheduled to run through June 27, providing a window of time for residents to get direct help before moving forward with online submissions. Businesses have until March 12, 2027, to apply for these loans if they choose to submit their applications electronically instead.
New mayor hires fire safety experts
Belleville Mayor-elect Frank Velez III has enlisted two prominent North Jersey fire safety experts to help the town recover from an overwhelming 12-alarm warehouse fire last month. He announced that John Cosgrove, a former Fair Lawn mayor and fire chief, joined his transition team on June 17.
Former Jersey City Fire Department Battalion Chief Robert Forlenza also joined the team to advise Velez and work with Belleville officials on reviewing emergency response plans. These experts will help ensure that procedures are updated following the traumatic events of May 2026.
Velez stated that the devastation residents lived through because of this fire was among the most traumatic experiences a community can endure. He pledged to work alongside amazing first responders to ensure the community is safe and that tragedies like the Belleville Fire of 2026 never happen again.
Political shift in town leadership
Velez was elected mayor on May 12, unseating two-term incumbent Michael Melham by twenty percentage points in a significant political upset. He is due to take office on July 1 along with Councilwomen-elect Danyale Wells and Michelle Rodríguez.
The new administration faces the immediate challenge of coordinating recovery efforts while implementing safety reviews recommended by their newly hired experts. The combination of federal financial aid from the SBA and local planning expertise aims to address both economic loss and future prevention.
Questions residents are asking
Where can I get help filling out my disaster loan application?
SBA customer service representatives are available at the Business Recovery Center located inside the Belleville Public Library at 221 Washington Ave. The center is open Monday through Friday from 9 a.m. to 5 p.m., and on Saturdays from 9 a.m. to 1 p.m. until June 27.
What are the interest rates for these small business loans?
The SBA offers interest rates as low as 4% for eligible small businesses and 3.625% for private nonprofit organizations. Loan terms can extend up to 30 years, with payments not due until 12 months after the first loan disbursement.
Which counties are covered by this disaster declaration?
The SBA disaster declaration covers Essex County and the adjacent counties of Bergen, Hudson, Morris, Passaic, and Union. Businesses in these areas that suffered substantial economic injury from the fire may be eligible for assistance.
Who are the experts helping Belleville review safety plans?
Mayor-elect Frank Velez III has hired John Cosgrove, a former Fair Lawn mayor and fire chief, along with Robert Forlenza, a former Jersey City Fire Department Battalion Chief. They will work to review emergency response plans and procedures.