Less than two weeks to apply for an SBA Disaster Loan in Florida
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.
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
Disaster loan information and application forms can also be obtained by calling the
The filing deadline to return applications for physical property damage is
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