Office of Disaster Recovery and Resilience: How to apply for SBA disaster assistance

If your home, business or nonprofit organization was damaged in a disaster declared area, you may be eligible for financial assistance from the Small Business Administration. The SBA SBA offers low interest fixed rate disaster loans with terms up to 30 years to rebuild, repair or replace damaged property. Homeowners may apply for disaster loans up to $500,000 to make repairs to their primary residence. Homeowners and renters may borrow up to $100,000 to replace the damaged contents of their homes as well as automobiles. Businesses and nonprofits may borrow up to $2 million to repair or replace buildings, equipment and other assets. Small businesses and private nonprofits may also apply for economic injury disaster loans to help them recover from financial losses. Additional funding may be borrowed to cover mitigation costs to protect your property against future damage. SBA disaster loans have unique benefits such as no payments due and no interest incurred for the first year after your disbursement date. There is no cost to apply and no obligation to accept a disaster loan if approved. You do not need to wait for your insurance settlement to apply. For more information and to apply for a disaster loan, visit sba.gov disaster.