SBA Offers Low Interest Disaster Recovery Loans

The U.S. Small Business Administration has approved more than $554 million in low-interest disaster loans to about 17,825 residents and business owners in the areas affected by the late-summer rash of deadly hurricanes and floods.

The SBA makes low-interest disaster loans to homeowners, renters, and non- farm businesses of all sizes. Loans of up to $1.5 million are available to eligible businesses of all sizes and non-profit organizations to repair damage to real estate, machinery, equipment and inventory. Economic Injury Disaster Loans (EIDLs) of up to $1.5 million are also available to small businesses unable to pay bills or meet operating expenses.

To be considered for all forms of federal recovery assistance, disaster victims must first call the Federal Emergency Management Agency (FEMA) at 1- 800-621-FEMA (3362).

For more information about SBA’s disaster assistance program, visit the SBA Disaster Recovery website