SBA will accept all disaster loan applications up to 60 days after the filing deadline without an explanation of why you were delayed. You can apply online using the MySBA portal at https://lending.sba.gov, or by coming into our centers.
SBA offers disaster assistance in the form of low interest loans. These loans are the primary source of federal assistance to help private property owners pay for losses not covered by insurance or other recoveries.
SBA is co-located with FEMA at all Disaster Recovery Centers in the area, there is a location list attached to this email.
SBA offers low-interest federal disaster loans to businesses of all sizes, private nonprofit organizations, homeowners, and renters.
Homeowners: may borrow up to $500,000 to repair or rebuild/replace their primary residence to its pre-disaster condition.
- Interest rates as low as 2.68% fixed for up to a 30-year term.
Renters & Homeowners: up to $100,000 to repair or replace personal property, monies can be used to purchase – repair:
- Automobiles -Personal car (vehicle)
- Furniture, appliances, TV, etc.
- Clothing and any personal belongings
- Interest rates as low as 2.68% fixed for up to a 30-year term.
Businesses/Non-profits:
Property Damage: up to $2,000,000 available to businesses of any size and private, non-profit organizations.
Funds may be used to pay:
- Repairs or replacement of real estate
- Purchase machinery and equipment
- Buy inventory and other assets that were damaged or destroyed
Interest rates as low as 4% for businesses and 3.25% for Non-Profit Organizations for a term up to 30 years.
Economic Injury: up to $2,000,000 for working capital to help pay obligations until normal operations resume.
Funds may be used to pay:
- Payroll
- Lease/mortgage payments
- Utilities payments
- Vendor payments
- Bank debt payments
- Business credit cards
Interest rates as low as 4% for businesses and 3.25% for Non-Profit Organizations for a term up to 30 years.
- You can apply for an SBA loan the same day you register with FEMA.
- If approved, you’re not obligated to take a loan
- You don’t have to wait for your insurance to settle.
- All loans have a 12-month deferrement and no interest accrues during this time.
- Applicants may increase their loans by up to 20% of verified physical damages to add mitigation measures to their primary residence or businesses.
- Loan amounts and terms are set by SBA and are based on each applicant’s financial condition.
Applications for disaster loans may be submitted online using the MySBA Loan Portal at https://lending.sba.gov or other locally announced locations.
Please contact the SBA’s Customer Service Center by email at [email protected] or by phone at 1-800-659-2955 for further assistance.
For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.
