The party's South Down MLA, Cathy Mason said that the flooding in Downpatrick was "devastating for local businesses and workers" and put them under "extreme pressure".
Mrs Mason said that she hopes the council works quickly "to ensure applications for support are processed quickly, ensuring financial help quickly reaches the affected businesses".
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In a statement Cathy Mason said:
"The British government’s support scheme was inadequate, and I welcome the swift action from the Economy Minister, Conor Murphy. He has acted quickly to ensure traders have access to proper funding and support.
"We need a multi-agency approach to a flood mitigation and defence strategy for the Quoile to ensure we aren’t faced with this again.
"We also need to see a plan from the Department for Communities for the town, to ensure Downpatrick and its small and independent traders fully recover from the flooding. One that promotes sustainable tourism and focuses on strengthening the local economy.
"Sinn Féin will continue working to support Downpatrick to keep the town moving forward."
