The U.S. Small Business Administration (SBA) can provide low-interest, long-term disaster loans to eligible borrowers. There are two programs that can be used:
Business Disaster Loan
Used to repair or replace damaged or destroyed real estate, machinery and equipment, inventory or other business assets.
Economic Injury Disaster loan
This loan can be used to assist in meeting working capital needs or normal business operating expenses.
Where Can You Apply?
- Applications can be submitted online at: disasterloan.sba.gov/ela
- Apply at a Disaster Recover Center. Locations can be found at: sba.gov/disaster
or by calling 800-659-2955
How can I apply?
The online application process is the fastest method regarding a decision on your loan eligibility. Please keep in mind that after a Presidential disaster declaration, you must first register with the Federal Emergency Management Agency (FEMA). To obtain a registration number,
call FEMA at 1-800-621-3362 (TTY: 1-800-462-7585) or visit DisasterAssistance.gov.
For a list of the required items necessary to complete the application, please visit disasterloan.sba.gov/ela/Information/ApplyOnline.
What should I know about the SBA Disaster Loans?
As you consider which loan may work best for you, given your business and situation, we invite you to consider a few of the following aspects of these loans:
- SBA disaster loans are available to businesses, regardless of size.
- SBA disaster loans provide for the ability to borrow up to $2 million depending on your business.
- SBA disaster loans are available to private universities and certain Non-Profit Organizations as defined by the SBA.
- There will be an initial credit check, then an SBA loan officer will review all applications and guide you through the process.
- If approved, the SBA will be in direct contact with you.
- A case manager will be assigned to you for further processing.
For additional information on SBA Disaster Loans review their three step process guide.
Please note, this is not to be confused with the Community Advantage Program (CAP), which are small (less than $250k) loans designed under the 7(a) program. They will not process Disaster loans through the CAP. We do have a non-bank source for these requests as well (CDC Small Business Finance-San Diego Office). These questions should be directed to our office for further questions, etc.