ATLANTA – The U.S. Small Business Administration (SBA) encourages businesses of all sizes, private nonprofit organizations, homeowners and renters to apply for a disaster loan before the Jan. 12 deadline. Anyone in the declared Florida counties who incurred damage from Sept. 23 through Nov. 4 from Hurricane Ian should apply for the disaster recovery loan program. As of today, the SBA had approved 19,537 Hurricane Ian disaster loans in Florida for a total of $1,377,407,300.
Disaster survivors with insurance should not wait for their settlement before applying to the SBA. The SBA can make a loan for the total loss and use insurance proceeds to reduce or repay the loan.
The SBA offers low-interest, long-term disaster loans to assist those with losses resulting from a declared disaster. Loans are available for physical damage and working capital. To take advantage of this opportunity, disaster survivors need to apply by the deadline.
SBA is operating the following Business Recovery Centers in Florida where anyone can receive assistance with applying for a disaster loan:
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SBA Business Recovery Center Collier County Hours: Monday, 9 a.m. to 4:30 p.m. |
SBA Business Recovery Center Hillsborough County Hours: Monday – Saturday, 9 a.m. to 5 p.m. |
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SBA Business Recovery Center Lee County Hours: Monday – Saturday, 9 a.m. to 5 p.m. |
SBA Business Recovery Center Lee County Hours: Monday – Thursday, 8 a.m. to 6 p.m. |
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SBA Business Recovery Center Sarasota County Hours: Monday – Saturday, 9 a.m. to 6 p.m. |
SBA Business Recovery Center Seminole County Hours: Monday – Saturday, 9 a.m. to 6 p.m. |
Interest rates are as low as 3.04 percent for businesses, 1.875 percent for nonprofit organizations, and 2.188 percent for homeowners and renters, with terms up to 30 years. The SBA customizes loan amounts and terms based on each applicant’s unique situation.
Applicants may be eligible for a loan amount increase up to 20 percent of their physical damages, as verified by the SBA, for mitigation purposes. Eligible mitigation improvements may now include a safe room or storm shelter to help protect property and occupants from future damage caused by a similar disaster.
Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at https://disasterloanassistance.sba.gov/ela/s/ and should apply under SBA declaration # 17644.
To be considered for all forms of disaster assistance, applicants should register online at DisasterAssistance.gov or download the FEMA mobile app. If online or mobile access is unavailable, applicants should call the FEMA toll-free helpline at 800-621-3362. Those who use 711-Relay or Video Relay Services should call 800-621-3362.
Disaster loan information and application forms can also be obtained by calling the SBA’s Customer Service Center at 800-659-2955 (if you are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services) or sending an email to DisasterCustomerService@sba.gov. Loan applications can also be downloaded from sba.gov/disaster. Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
The filing deadline to return applications for physical property damage is Jan. 12, 2023. The deadline to return economic injury applications is June 29, 2023.
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About the U.S. Small Business Administration
Recently, U.S. SBA Administrator Isabella Casillas Guzman announced a policy change granting 12 months of no payments and 0 percent interest. This pertains to all disaster loans approved in response to disasters declared on or after Sept. 21, 2022, through Sept. 30, 2023. This covers SBA disaster loans currently available for Hurricane Fiona and Hurricane Ian declared earlier this year. This policy change will benefit disaster survivors and help them to decrease the overall cost of recovery by reducing the amount of accrued interest they must repay. Details are available through the SBA Disaster Assistance Customer Service Center at 800-659-2955. Individuals with verbal or hearing impairments may dial 7-1-1 to access telecommunications relay services from 8 a.m. to 8 p.m. ET, Monday to Friday, or email: DisasterCustomerService@sba.gov.
The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.