SBA DISASTER LOANS FOR FLORIDIANS
[https://www.fema.gov/fact-sheet/sba-disaster-loans-floridians] 

Release Date: 
Sep 12, 2024 

Low-interest federal disaster loans are available for Floridians
affected by Hurricane Debby. 

After a federal disaster declaration, the U.S. Small Business
Administration (SBA) offers low-interest disaster loans to homeowners,
renters, businesses and nonprofit organizations. SBA is the largest
source of funds to help property owners pay for disaster losses not
covered by insurance or other resources. 

Interest rates can be as low as 4 percent for businesses, 3.25 percent
for private nonprofit organizations and 2.813 percent for homeowners
and renters, with terms up to 30 years. 

Homeowners may be eligible for a disaster loan up to $500,000 for
primary residence repairs or rebuilding. SBA may also be able to help
homeowners and renters with up to $100,000 to replace personal
property, including automobiles damaged or destroyed in the disaster.

Businesses of all sizes and private nonprofit organizations may borrow
up to $2 million to repair or replace damaged property, destroyed real
estate, machinery and equipment, inventory and other business assets.
SBA can also lend additional funds to help with the cost of
improvements to protect, prevent or minimize disaster damage from
occurring in the future.

For small businesses, small agricultural cooperatives, businesses
engaged in aquaculture and most private nonprofit organizations of any
size, SBA offers Economic Injury Disaster Loans to help meet working
capital needs caused by the disaster. Economic injury assistance is
available to businesses regardless of property damage.

If your application is approved, you don’t have to accept a loan but
it is useful to have the resource available. 

Floridians can apply online at SBA.gov/disaster
[https://www.sba.gov/funding-programs/disaster-assistance]. Disaster
loan information and application forms can also be obtained by calling
the SBA’s Customer Service Center at 800-659-2955. SBA
representatives are available to provide one-on-one assistance to
disaster loan applicants at Disaster Recovery Centers
[http://www.fema.gov/drc] throughout the affected area. Business
owners may apply in-person by visiting a Business Recovery Center at
Rocky Bluff Library, 6750 US-301, Ellenton, Yankeetown Town Hall, 6241
Harmony Lane, Yankeetown, or Sarasota Christian Church, 2923 Ashton
Rd., Sarasota. 

The deadline to apply for property damage is Oct. 9, 2024. The
deadline to apply for economic injury is May 12, 2025.