Smart solutions for your business
$5,000 – $5.5 million
varies depending on type of SBA Loan
6 – 25 years
About 60 to 90 days
Small Business Loans & Financing Options
HOW IT WORKS?
What is an SBA Disaster Loan?
However, the SBA also provides low-interest loans to small business owners, non-profit organizations, homeowners, and renters after a disaster. These loans can be used to repair or replace property damaged during a disaster, such as a hurricane or earthquake.
Businesses in a declared disaster area can receive up to $2 million to repair or replace real estate, machinery, equipment, inventory, leasehold improvements, or fixtures. An SBA Disaster Loan for businesses is designed to cover losses not fully covered by insurance. SBA Disaster Loans are intended solely for recovery efforts; they can’t be used to upgrade or expand your business.
Homeowners or renters can get a loan for up to $200,000 to repair or replace your primary residence, or to make structural improvements to lessen the impact of future disasters. Renters and homeowners can also borrow up to $40,000 to repair or replace personal property, including vehicles, furniture, and appliances.