U.S. SMALL BUSINESS ADMINISTRATION
DEADLINE TO APPLY FOR PROPERTY DISASTER LOANS IS NOVEMBER 29, 2023
- Homeowners, Renters, Businesses of any size, and most Private Non-Profits can apply for a SBA low interest rate disaster loan to repair or replace their property that was damaged as the result of Hurricane Idalia between August 27 through September 4, 2023 in Suwannee County and in the other counties declared a disaster as a result of Hurricane Idalia in the state of Florida.
- Apply online at: SBA.gov/disaster
- DisasterLoanAssistance.sba.gov
- Call SBA at: 1-800-659-2955 or 711 for the hearing impaired to see if there is a disaster center near you (the current list of locations is attached to this email)
LOAN TERMS
- Maximum loans up to:
- $500,000 for real property loans for homeowners
- $100,000 for personal property disaster loans for homeowners and renters
- $2 million for businesses and non-profits includes physical property loans, Economic Injury Disaster Loan “EIDL”, mitigation loans, and refinancing if applicable. (Only the EIDL has an application deadline of May 31, 2024. Speak to Loan Officer for deadlines for other loans).
INTEREST RATES
Interest rates as low as:
- 2.500% Homeowners and Renters
- 2.375% Most Private Non-Profits
- 4.000% Businesses
ADDITIONAL BENEFITS TO AID IN THE RECOVERY
- No application fee
- No interest accrues during the first year of the loan
- First payment is not due for a period of one year
- Do not have to wait for insurance claim settlement in order to apply for a SBA disaster loan
- No collateral is requested for loans $25,000 or less
- Loan terms are up to 30 years
- See the attached Fact Sheet and flyers for more SBA Disaster Loan information.