SBA disaster loan deadline extended for hurricane victims

The U.S. Small Business Administration (SBA) has extended the deadline for disaster loan applications for individuals and businesses affected by Hurricanes Helene and Milton. The new deadline is now April 27, 2025. The extension comes after delays caused by a federal funding lapse that lasted from October 15 to December 21, 2024. Many people and businesses in the affected areas struggled to apply on time because of these delays. Now, they have more time to submit their applications to the SBA and get financial help to rebuild.

States that qualify for the extended SBA disaster loan deadline

The extension applies to residents and businesses in several states that suffered heavy damage from the hurricanes. These states include Florida, North Carolina, South Carolina, Georgia, Virginia, Tennessee, and West Virginia. Many homes, businesses, and nonprofit organizations in these areas suffered severe damage or total destruction. With this extended deadline, more people will have a chance to apply for financial aid. The SBA wants to make sure that those who need help can get the support they need to recover from the disaster.

How businesses, homeowners and nonprofits can apply for SBA assistance

People and businesses impacted by the hurricanes can apply for SBA disaster assistance loans online. The application process is simple and can be completed through the MySBA Loan Portal. If online applications are not an option, individuals can also visit designated local assistance centers for in-person help. These centers provide guidance on filling out applications and understanding the loan options available through the SBA.

Loan details and eligibility for those seeking financial aid

The SBA is offering low-interest loans to help homeowners, businesses, and nonprofit organizations rebuild after the hurricanes. These loans help repair or replace damaged property, including homes, offices, and inventory. The SBA determines the loan amount and repayment terms based on financial need. The goal is to provide fair and reasonable assistance to those struggling to recover.

Anyone with questions about the application process can contact the SBA Disaster Assistance Customer Service Center. Help is available by phone at 1-800-659-2955 or by email at [email protected]. SBA representatives are available to answer questions and guide applicants through the process.

The SBA’s announcement, signed by Administrator Kelly Loeffler on February 26, 2025, leaves room for additional extensions. Other states affected by the 2024 federal funding lapse can request deadline extensions if needed. This ensures that more people and businesses have enough time to apply for disaster loans through the SBA and rebuild their communities.