In response to hurricanes Helene and Milton, the U.S. Small Business Administration (SBA) remains committed to supporting small businesses and residents impacted by the storm. Below are SBA assistance programs available to your business if you are in one of the affected areas of these natural disasters.
How to Apply for an SBA Disaster Loan
SBA disaster loans are available to businesses of all sizes, homeowners, renters, and private nonprofit organizations in declared disaster areas. To find out if you can apply, visit the Disaster Declaration Search Page.
How to Use an SBA Disaster Loan
SBA offers low-interest loans to help in disaster recovery. These loans can be used for:
- Losses not covered by insurance or FEMA for both personal and business needs.
- Business operating expenses that could have been met if the disaster had not occurred.
Types of SBA Disaster Loans
SBA offers a range of loans tailored to cover different types of losses following a disaster:
- Physical Damage Loans: Funds the repair and replacement of physical assets damaged in a declared disaster.
- Mitigation Assistance: Provides funding to make improvements to reduce future damage.
- Economic Injury Loans: Helps cover operating expenses for small businesses affected by the disaster.
- Military Reservist Loans: Assists small businesses with operating expenses when employees are on active duty leave.
How to Apply for Disaster Assistance
- Check disaster declarations – verify if the SBA has issued a disaster declaration in your area.
- Apply for a disaster loan – loans are available for businesses and homes impacted by disaster. Visit MySBA Loan Portal to begin the process.
- Check Your Application Status – log into your MySBA account or check your email for updates.
Learn more about the SBA and the support they offer small businesses at https://www.sba.gov.
