Business Physical Disaster Loan Program
Business Physical Disaster Loans are low-interest loans intended to help repair or replace disaster-damaged property. Businesses and nonprofit organizations may apply for up to $2 million to repair or replace property, including real estate, equipment, inventory, machinery, and other business assets.
Economic Injury Disaster Loan Program
Businesses in qualifying adjacent counties may apply for up to $2 million for working capital through the SBA Economic Injury Disaster Loan program. The Economic Injury Disaster Loan program provides working capital loans to help small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private, nonprofit organizations meet financial obligations and operating expenses through the disaster recovery period.
Interest rates are as low as 3.305 percent for businesses and 2.5 percent for non-profit organizations. The SBA customizes loan amounts and terms up to a maximum of 30 years for each applicant.
Applicants may also be eligible for a loan amount increase up to 20 percent of their physical damages to protect property from future damage, including adding a safe room or storm shelter.
To Apply for Physical and Economic Injury Loans
Businesses must first register with the Federal Emergency Management Agency (FEMA) at www.disasterassistance.gov, or by mobile device at m.fema.gov or call the toll-free helpline at 800-621-3362. Those who use 711-Relay or Video Relay Services should call 800-621-3362 (800-462-7585 TTY). Upon registration with FEMA, businesses may apply for a disaster loan a number of ways:
- Submit an online application at https://disasterloan.sba. gov/ela;
- Download an application from www.sba.gov/disaster and submit to a SBA disaster recovery center or mail to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155;
- Visit a SBA recovery center for one-on-one assistance; or
- Visit their local Florida SBDC for assistance.
The filing deadline to return applications for physical property damage is November 9, 2017. The deadline to return economic injury applications is June 11, 2018.
For a complete list of eligible counties, information on state assistance available through the Florida Small Business Emergency Bridge Loan Program, and how the Florida SBDC can help, please click here.
For questions, please contact the Florida SBDC Network at (850) 898-3489 or Disaster@FloridaSBDC.org. The phone line will be answered during regular business hours; all voice mails and emails will be responded to within 24 hours.