In the aftermath of floods, earthquakes, hurricanes, tornadoes, power outages, oil spills, droughts and other calamities that have occurred, since 1953 the U.S. Small Business Administration approved more than two million disaster loans to businesses of all sizes, non-profit organizations, homeowners and renters for a total of $53.8 billion.
“Here in Delaware, SBA disaster assistance has helped a variety of small businesses to get back on their feet after a disaster,” said John Fleming, SBA Delaware director. “Following disasters like Hurricane Sandy, Hurricane Floyd, as well as drought and flood events, Delaware small businesses have turned to SBA’s disaster loan program to help them to re-build and gear up for their next chapter.”
The SBA makes low-interest loans to homeowners, renters and non-farm businesses of all sizes. Homeowners may borrow up to $200,000 to repair or replace damaged real estate. Individuals may borrow up to $40,000 to cover losses to personal property. Small businesses and non-profits that suffered economic losses as a result of the declared disaster may apply for a working capital loan of up to $2 million. More information about SBA’s disaster assistance program is available at www.sba.gov/disasterassistance.
