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SBA Disaster Loans for Floridians

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. 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 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.

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