The U. S. Small Business Administration (SBA) provides disaster recovery assistance to Florida communities impacted by Hurricane Ian. In times of disaster, the SBA Disaster Loan program helps homeowners, renters, businesses, and private nonprofits repair, replace, rebuild to recover from the damaging impacts of the declared disaster. Disaster survivors located in declared counties should register first with FEMA. If referred by FEMA to the SBA, please complete the SBA disaster loan application. If the SBA disaster loan application is declined, applicants can go back to FEMA for other needs assistance.
The SBA Disaster Loan program provides long-term, low-interest loans to homeowners, renters, businesses, and private nonprofits who sustained physical damages to their primary residence and personal property including a vehicle, or business real estate, inventory, supplies, and other business assets. Private nonprofit organizations include entities such as faith-based organizations, homeowner associations, and more. Three steps to apply for SBA Disaster Loan assistance include the following:
Homeowners are eligible up to $200,000 to repair or replace disaster damaged real estate. Homeowners and renters are eligible for loans up to $40,000 to repair or replace disaster damaged personal property such as clothing, furniture, appliances, vehicles, etc. Businesses of all sizes and private non-profit organizations may be eligible up to $2 million to repair or replace disaster-damaged business assets such as buildings, inventory, furniture and fixtures, machinery, and equipment, etc. The business must be physically located in one of the declared primary counties.
In addition, small businesses and most private non-profits that suffered economic losses due to the disaster may also be eligible for SBA Economic Injury Disaster Loans (EIDLs), regardless of whether they sustained physical damage. These working capital loans up to $2 million provide funds for necessary and ongoing expenses until business returns to normal. The business must be physically located in a declared primary or contiguous county. The business loan limit is $2 million for physical, economic, mitigation and refinancing funds. Interest rates are as low as 3.04% for businesses, 1.875% for nonprofit organizations and as low as 2.188% for homeowners and renters, with terms up to 30 years. The rate is fixed for the life of the loan.
To be considered for all forms of disaster assistance begin by registering with FEMA online at DisasterAssistance.gov or download the FEMA mobile app or call 800-621-3362. There are three options to apply for an SBA disaster loan:
(1) online at https://disasterloanassistance.sba.gov/ela/s/
(2) visit a recovery center, or
(3) request or download a paper loan application and mail it in. Call the SBA Customer Service Center at 800-659-2955 with questions. A disaster recovery center is currently open at Glades County Health Unit in Moore Haven. The application deadline for physical damages is Nov. 28, 2022.