FACT SHEET ABOUT U. S. SMALL BUSINESS ADMINISTRATION (SBA)
Whether you rent or own your own home, own your own business, or own a small agricultural cooperative located in a declared disaster area, and
are the victim of a disaster, you may be eligible for financial assistance from the U. S. Small Business Administration (SBA).
What Types of Disaster Loans are Available?
Home Disaster Loans – Loans to homeowners or renters to repair or replace disaster damaged real estate or personal property owned
by the victim. Renters are eligible for their personal property losses, including automobiles.
Business Physical Disaster Loans – Loans to businesses to repair or replace disaster-damaged property owned by the business,
including real estate, inventories, supplies, machinery and equipment. Businesses of any size are eligible. Private, non-profit
organizations such as charities, churches, private universities, etc., are also eligible.
Economic Injury Disaster Loans (EIDLs) – Working capital loans to help small businesses, small agricultural cooperatives and
most private, non-profit organizations of all sizes meet their ordinary and necessary financial obligations that cannot be met as
a direct result of the disaster. These loans are intended to assist through the disaster recovery period.
EIDL assistance is available only to entities and their owners who cannot provide for their own recovery from non-government
sources, as determined by the U.S. Small Business Administration (SBA).
What are Mitigation Loans?
If your loan application is approved, you may be eligible for additional funds to cover the cost of improvements that will protect your property
against future damage. Examples of improvements include retaining walls, seawalls, sump pumps, etc. Mitigation loan money would be in
addition to the amount of the approved loan, but may not exceed 20 percent of total amount of disaster damage to real estate and/or leasehold
improvements, as veri