SBA Disaster Loans Available for Businesses and Residents
The U.S. Small Business Administration (SBA) will offer low-interest federal disaster loans to businesses of all sizes, most private nonprofit organizations, homeowners, and renters whose property was damaged or destroyed by torrential rainfall and flooding on Aug. 5.
For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size, SBA offers Economic Injury Disaster Loans to help meet working capital needs caused by the disaster. Economic injury assistance is available regardless of whether the business suffered any property damage. Disaster loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for up to $40,000 to repair or replace damaged or destroyed personal property, including vehicles.
Applicants can apply online, receive additional disaster assistance information and download applications at https://disasterloan.sba.gov/ela. Applicants can also call SBA’s Customer Service Center at (800) 659-2955 or email email@example.com for more information on SBA disaster assistance. Individuals who are deaf or hard‑of‑hearing may call (800) 877-8339. The filing deadline to return applications for property damage is Oct. 23, 2017. The deadline to return economic injury applications is May 22, 2018.
Read the Disaster Loan Fact Sheet