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Home My WebLink About060826 U.S. Small Business Administration Fact Sheet - Disaster Loans Tana Morehead immon Public Affairs Specialist S B A Office of Disaster Recovery&Resilience Field Operations Center-West tana.morehead@sba.gov r c: 571-752-0653 U.S.Small Business 6501 Sylvan Road Administration Citrus Heights,CA 95610 SBA.GOV Scan the QR code to E • El connect with us on •ir social media and learn #••t more about disaster .p • assistance. }r`'I 1 Date: 04/13/2026 S B U.S. SMALL BUSINESS ADMINISTRATION FACT SHEET - DISASTER LOANS ' WASHINGTON Declaration #21499 & #21500 (Disaster: WA-20027) U.S.Small Business Incident: SEVERE STORMS, STRAIGHT-LINE WINDS, Administration FLOODING, LANDSLIDES & MUDSLIDES occurring: December 5 through December 19, 2025 in the Washington counties of: Chelan, Grays Harbor, King, Lewis, Pacific, Pierce, Skagit, Snohomish, Thurston & Whatcom; in the tribal areas of: The Confederated Tribes of the Chehalis Reservation, Lummi Nation, Muckleshoot Indian Tribe, Nisqually Indian Tribe, Nooksack Indian Tribe, Puyallup Tribe, Quinault Indian Nation, Samish Indian Nation, Sauk-Suiattle Indian Tribe, Shoalwater Bay Indian Tribe, Snoqualmie Indian Tribe, Squaxin Island Tribe, Stillaguamish Tribe of Indians, Swinomish Indian Tribal Community, Tulalip Tribes & the Upper Skagit Indian Tribe; and for economic injury only in the contiguous Washington counties of: Cowlitz, Douglas, Island, Jefferson, Kitsap, Kittitas, Mason, Okanogan, San Juan, Skamania, Wahkiakum & Yakima Application Filing Deadlines: Physical Damage: June 10, 2026 Economic Injury: January 7, 2027 If you are located in a declared disaster area,you may be eligible for financial assistance from the U.S. Small Business Administration(SBA). What Types of Disaster Loans are Available? • 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 (EIDL)—Working capital loans to help small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, 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. • Home Disaster Loans — Loans to homeowners or renters to repair or replace disaster-damaged real estate and personal property, including automobiles. What are the Credit Requirements? • Credit History—Applicants must have a credit history acceptable to SBA. • Repayment—Applicants must show the ability to repay all loans. What are the Interest Rates? By law,the interest rates depend on whether each applicant has Credit Available Elsewhere. An applicant does not have Credit Available Elsewhere when SBA determines the applicant does not have sufficient funds or other resources, or the ability to borrow from non- government sources, to provide for its own disaster recovery. An applicant, which SBA determines to have the ability to provide for his or her own recovery is deemed to have Credit Available Elsewhere. Interest rates are fixed for the term of the loan. The interest rates applicable for this disaster are: Physical Damage Loan Types No Credit Available Credit Available Elsewhere Elsewhere Home Loans 2.875% - 5.750% Business Loans 4.000% 8.000% Non-Profit Organizations 3.625% 3.625% Economic Injury Loan Types No Credit Available Credit Available Elsewhere Elsewhere Businesses& Small Agricultural Cooperatives 4.000% N/A Non-Profit Organizations 3.625% N/A Date: 04/13/2026 What are Loan Terms? The law authorizes loan terms up to a maximum of 30 years. However, the law restricts businesses with credit available elsewhere to a maximum 7-year term. SBA sets the installment payment amount and corresponding maturity based upon each borrower's ability to repay. Borrowers may be required to provide collateral. What are the Loan Amount Limits? • Business Loans—The law limits business loans to$2,000,000 for the repair or replacement of real estate,inventories,machinery, equipment and all other physical losses. Subject to this maximum, loan amounts cannot exceed the verified uninsured disaster loss. • Economic Injury Disaster Loans (EIDL) — The law limits EIDLs to $2,000,000 for alleviating economic injury caused by the disaster. The actual amount of each loan is limited to the economic injury determined by SBA, less business interruption insurance and other recoveries up to the administrative lending limit. 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. • Business Loan Ceiling — The $2,000,000 statutory limit for business loans applies to the combination of physical, economic injury, mitigation and refinancing, and applies to all disaster loans to a business and its affiliates for each disaster. If a business is a major source of employment, SBA has the authority to waive the$2,000,000 statutory limit. • Home Loans—SBA regulations limit home loans to$500,000 for the repair or replacement of real estate and$100,000 to repair or replace personal property. Subject to these maximums, loan amounts cannot exceed the verified uninsured disaster loss. What Restrictions are there on Loan Eligibility? • Uninsured Losses—Only uninsured or otherwise uncompensated disaster losses are eligible. Any insurance proceeds which are required to be applied against outstanding mortgages are not available to fund disaster repairs and do not reduce loan eligibility. However, any insurance proceeds voluntarily applied to any outstanding mortgages do reduce loan eligibility. • Ineligible Property— Secondary homes, personal pleasure boats, airplanes, recreational vehicles and similar property are not eligible, unless used for business purposes. Property such as antiques and collections are eligible only to the extent of their functional value. Amounts for landscaping, swimming pools, etc.,are limited. • Noncompliance—Applicants who have not complied with the terms of previous SBA loans may not be eligible. This includes borrowers who did not maintain flood and/or hazard insurance on previous SBA loans. Note: Loan applicants should check with agencies / organizations administering any grant or other assistance program under this declaration to determine how an approval of SBA disaster loan might affect their eligibility. Is There Help with Funding Mitiqation Improvements? 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 physical damage to real property, including leasehold improvements, and personal property as verified by SBA to a maximum of$500,000 for home loans. It is not necessary for the description of improvements and cost estimates to be submitted with the application. SBA approval of the mitigating measures will be required before any loan increase. Is There Help Available for Refinancing? • SBA can refinance all or part of prior mortgages that are evidenced by a recorded lien, when the applicant (1) does not have credit available elsewhere, (2)has suffered substantial uncompensated disaster damage(40 percent or more of the value of the property or 50%or more of the value of the structure), and (3) intends to repair the damage. • Businesses—Business owners may be eligible for the refinancing of existing mortgages or liens on real estate, machinery and equipment, up to the amount of the loan for the repair or replacement of real estate, machinery, and equipment. • Homes—Homeowners may be eligible for the refinancing of existing liens or mortgages on homes, up to the amount of the loan for real estate repair or replacement. What if I Decide to Relocate? You may use your SBA disaster loan to relocate. The amount of the relocation loan depends on whether you relocate voluntarily or involuntarily. If you are interested in relocation, an SBA representative can provide you with more details on your specific situation. Are There Insurance Requirements for Loans? To protect each borrower and the Agency, SBA may require you to obtain and maintain appropriate insurance. By law, borrowers whose damaged or collateral property is located in a special flood hazard area must purchase and maintain flood insurance. SBA requires that flood insurance coverage be the lesser of 1) the total of the disaster loan, 2) the insurable value of the property, or 3) the maximum insurance available. Applications for disaster loans may be submitted online using the MySBA Loan Portal at https://lending.sba.gov or other locally announced locations. Please contact the SBA's Customer Service Center by email at disastercustomerservicea.sba.gov or by phone at 1-800-659-2955 for further assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services. ‘ffl=. Prepare Now and Protect M- Against Future Disasters Disaster preparation and hazard mitigation efforts are key to saving lives and property. SBA and FEMA can provide support for shoring up your home and business today. doe`(( )) Home and Personal Property 40 Business Physical Disaster After a disaster, you can use an SBA disaster loan to make your home or business safer and stronger for Mitigation Affordability the future. These loans can be increased by up to MITIGATION 20% to pay for upgrades that help prevent damage UPGRADE S115k 1 and protect lives. s,00k Even small changes can make a big difference in p keeping your property safe and avoiding costly a DISASTER DISASTER repairs later. Spreading the cost of these Cr. LOAN LOAN improvements over 30 years makes them more o affordable, especially when done while rebuilding after a disaster INTEREST RATE 2.5°0 25'0 MONTHLY PAYMENT S395.12 S454.39 MITIGATION UPGRADE '- 559.27 Natural hazard mitigation saves 30-Year Term $6 on average for every$1 spent on federal mitigation grants. Intereston the example shown vary sed Source:Natural Hazard Mitigation Saves Interim Report,June 2018 • Assess Your Needs: Evaluate the extent of damage and determine the necessary funds for recovery and mitigation. • Apply:Visit sba.gov/disaster or call 800-659-2955 to start your application. Deaf and hard- of-hearing individuals may call 7-1-1. • Plan Your Strategy(Optional): Call FEMA's hotline 833-336-2487 to speak with subject matter experts who can share mitigation techniques. • Request Mitigation Funding:Inquire about increasing your loan amount for mitigation purposes, during the initial loan application process or within two years or receiving the loan. All SBA programs and services are extended to the public on a nondiscriminatory basis. (07/2022) nr DISASTER SBA RECOVERY J FEMA Businesses meowne I F('1ND cE ..-. Renters NonDrolitz rs Mitigation Projects to Consider: ah AFlood - Wind • Add a sump pump to move standing water. • Install hurricane roof straps. • Install flood resistant material below the • Brace or upgrade to wind-rated garage Design Flood Elevation. doors. • Landscape to improve water runoff and • Install a safe room or storm shelter built drainage. to FEMA guidelines. • Elevate structures or convert your lowest • Strengthen structures to protect against floor into storage, parking or building high wind damage. access only. �� Wildfire ; , ; , Hail �� • • • Remove all debris from the roof, gutters • Upgrade to steel gutters and and out to 5 feet away from the building. downspouts. • Install 1/8-inch maximum noncombustible • Install hail protection, like hail guards, mesh screen over all vent openings to shields, or wire mesh, around your prevent embers from entering the building. HVAC equipment. • Install noncombustible materials on the • Upgrade your building's materials envelope of the house including Class A (shingles, windows, skylights, or siding) roof assemblies, gutters and downspouts. to withstand significant impact. Apply for an SBA Loan Today! Read about mitigation success stories! S O ..S' .2_..•1 O S Ora s,}'z£ss- - I. i,v..r.q. • Xs; Ctrs•=•:3'.1i. _=:s.s 12.=,�. C 7.1"012. :*** A :I-. : ,..ttr.:*•1:- it.:14t:::41.1*.L.• A ft:- --11: • -• - .•::. • N o =•. _ 1li-x:: • •. N :E. ..4 . _ . .=:b.:.>?.s§ »?. O :rz s se. s x 95 DISASTER I^ SBA RECOVERY FEMA R.=,•.�ez R.meo..en � e .e..�.. �.v Renters R.nRitz