Low-rate, long-term loans after a declared disaster

SBA Disaster Loans

SBA disaster loans are direct loans from SBA, not banks, for businesses in a declared disaster area: physical damage loans and Economic Injury Disaster Loans (EIDL), up to $2 million combined, at fixed rates of no more than 4% for businesses without credit elsewhere, with terms up to 30 years.

Updated October 2026 for SOP 50 10 8.1, effective October 1, 2026.

Maximum

Up to $2 million combined (physical damage and economic injury)

Terms

Up to 30 years

Rates

Fixed, capped at 4% if you cannot get credit elsewhere, or 8% if you can

SBA guarantee

Direct loan from SBA

Collateral

Required for physical damage loans over $50,000 (Presidential declarations) and for EIDLs over $50,000; SBA will not decline a loan for lack of collateral alone

How to apply

Directly with SBA through its online disaster loan portal.

Checked against sba.gov, October 2026. Lenders set their own terms within SBA limits.

Who qualifies

• Located in a county included in a declared disaster
• Losses not fully covered by insurance or other sources
• Businesses of all sizes and most private nonprofits for physical damage; small businesses and most private nonprofits for economic injury
• Applications must be filed by the deadline for each declaration

What to prepare

• Insurance policy and claim details
• Photos and repair estimates for damage
• Records showing lost revenue for economic injury
• Recent tax returns (SBA verifies them with the IRS)
• SBA Form 2202 (Schedule of Liabilities) and SBA Form 413 as requested

Your lender may ask for more. The Lender Document Checklist covers every program in detail.

SBA Disaster Loans: common questions