Small Business Administration (SBA) Loans

SBA disaster loans are low-interest loans provided by the United States Small Business Administration to help with losses that are not covered by FEMA or insurance. 

Individuals, businesses, eligible homeowners, and renters may apply for SBA disaster loans. 

• Home disaster loans (Homeowners and renters)
• Helps homeowners fix damage to their house
• Can also help replace things like cars, furniture, and clothes
• Business physical disaster loans
• Helps small businesses fix buildings, equipment, or supplies that were damaged
• Economic injury disaster loans
• Helps businesses that lost money because they had to close or slow down after the disaster
• Extra money to prevent future damage
• SBA may give extra loan money to make your home or business safer, like raising a home to avoid future floods

Like FEMA assistance, you must be in a declared disaster area and have disaster‑related losses not fully covered by insurance or other aid.

Depending on the kind of loan you are applying for, there are additional requirements.

You can apply for an SBA disaster loan:

1. On line at https://lending.sba.gov/search-disaster/; or
2. In person at a Disaster Recovery Center (DRC). To locate DRCs in your area, visit https://egateway.fema.gov/ESF6/DRCLocator; or
3. To request paper forms, call the SBA contact center at 1-800-659-2955 (TTY: 711).

• Contact information for all applicants
• Social Security numbers for all applicants
• FEMA disaster number (you get this after applying with FEMA)
• Deed or lease information for your home or business
• Insurance information (home, renters, business, flood, etc.)
• Financial information, such as:
  
  • Income
  • Expenses
  • Tax records
  • Business financials (if applying as a business)
• Employer Identification Number (EIN) (for businesses)

Yes. Like other loans, SBA loans have to be paid back. SBA loans are different from FEMA assistance. FEMA assistance does not have to be paid back, except in the case of fraud or recoupment. 

SBA disaster loans can have repayment terms of up to 30 years. The exact length depends on:

• Your ability to repay (SBA reviews your income and financial situation)
• The type of loan (home, business, or economic injury)
• Credit and financial condition

SBA sets the longest terms for people with the greatest financial need, to keep monthly payments as low as possible.

For more information, visit the SBA Disaster Assistance website.