The Small Business Administration provides low-interest disaster loans to help businesses and homeowners repair or replace disaster-damaged property, inventory, and supplies.
- SBA offers federal low-interest disaster loans to businesses of all sizes, most private nonprofit organizations, homeowners, and renters.
- Businesses of any size may borrow up to $2 million to repair/replace disaster property damage.
- Small businesses, small businesses engaged in aquaculture, and most private nonprofit organizations may also borrow to help meet disaster caused working capital needs. The $2 million maximum applies to the combination of property damage and working capital loans.
- If you are a homeowner or renter, FEMA may refer you to SBA.
- Homeowners may borrow up to $200,000 to repair or replace their primary residence.
- Homeowners and renters may borrow up to $40,000 to replace personal property, including vehicles.
After registering with FEMA, businesses and homeowners that would like to apply for SBA loans can do so online at: https://www.sba.gov/funding-programs/disaster-assistance