Getting Disaster Help From SBA
What You Need To Know
- SBA disaster loans are the primary source of federal assistance to help pay for disaster repair or replacement costs not fully covered by insurance or other compensation.
- SBA offers low-interest disaster loans to businesses of all sizes, most private nonprofit organizations, homeowners and renters.
- Businesses of all sizes and most private nonprofit organizations may borrow up to $2 million for 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. Business statutory loan limit is $2 million for combined damage and working capital needs.
- Homeowners may borrow up to $200,000 to repair/replace their primary residence.
- Homeowners and renters may borrow up to $40,000 to repair/replace personal property.
What You Need To Do
- Register with FEMA at www.disasterassistance.gov.
- Homeowners and renters should submit their SBA disaster loan application, even if they are not sure if they will need or want a loan. If SBA cannot approve your application, in most cases we refer you to FEMA’s Other Needs Assistance (ONA) program for possible additional assistance.
Apply online at Home: sba.gov
Or contact:
SBA Virtual Business Recovery Center
SBA Virtual Disaster Loan Outreach Center
Monday – Friday 8 a.m. – 8 p.m. EDT
FOCWAssistance@sba.gov
(800) 659-2955