## Where to Apply for Small Business Disaster Loan
**Federal Disaster Loans**
* **Small Business Administration (SBA)**
* Apply online: https://disasterloanassistance.sba.gov/ela/s/
* Call the SBA Disaster Assistance Customer Service Center: 1-800-659-2955 (TTY: 1-800-877-8339)
* **U.S. Department of Agriculture (USDA)**
* Farm Service Agency (FSA): https://www.fsa.usda.gov/programs-and-services/disaster-assistance-programs/
* Rural Development (RD): https://www.rd.usda.gov/programs-services/disaster-assistance
* **U.S. Economic Development Administration (EDA)**
* Apply online: https://eda.gov/disaster-assistance/
* Call the EDA Hotline: 1-800-913-1625 (TTY: 1-866-826-9451)
**State and Local Disaster Loans**
* **State Disaster Relief Agencies**
* Check your state’s website for disaster assistance programs. Contact information can usually be found on the state’s emergency management or disaster relief website.
* **Local Disaster Relief Organizations**
* Contact your local government offices (city, town, county) to inquire about disaster loan programs.
* Reach out to community non-profit organizations that may offer financial assistance to businesses affected by disasters.
## Eligibility Requirements
**Federal Disaster Loans (SBA, USDA, EDA)**
* Business must be located in a disaster-declared area.
* Business must have suffered economic injury as a result of the disaster.
* Business must have been unable to obtain credit elsewhere.
* Business must demonstrate ability to repay the loan.
**State and Local Disaster Loans**
* Eligibility requirements vary by state and locality.
* Typically, businesses must meet certain criteria related to their size, location, and financial impact from the disaster.
## Loan Terms
**Federal Disaster Loans (SBA, USDA, EDA)**
* **SBA Economic Injury Disaster Loans (EIDLs)**
* Maximum loan amount: $2 million
* Interest rates: 3.75% for small businesses, 2.75% for non-profit organizations
* Loan term: Up to 30 years
* **USDA Farm Service Agency (FSA) Emergency Loans**
* Maximum loan amount: $500,000
* Interest rates: 4% for actual losses, 2.875% for new operating expenses
* Loan term: Up to 7 years
* **EDA Disaster Assistance Loans**
* Maximum loan amount: $5 million
* Interest rates: 6%, may be applied directly by state governments
* Loan term: Up to 20 years
**State and Local Disaster Loans**
* Loan terms vary significantly by state and locality.
* Contact the relevant state agency or local government office for specific information.
## Application Process
**Federal Disaster Loans (SBA, USDA, EDA)**
1. **Gather Required Documents:**
* Business registration documents
* Tax returns
* Financial statements
* Documentation of disaster-related damages or losses
2. **Apply Online or by Phone:**
* Follow the instructions provided by the SBA, USDA, or EDA.
* Submit the required documentation and information.
3. **Loan Review and Approval:**
* The loan application will be reviewed by the relevant agency.
* The agency will assess the eligibility of the business and the extent of the disaster-related damages or losses.
**State and Local Disaster Loans**
1. **Contact the Relevant Agency:**
* Reach out to the state disaster relief agency or local government office to inquire about disaster loan programs.
2. **Obtain Application Forms:**
* Request and complete the application forms provided by the agency.
* Gather the required supporting documentation.
3. **Submit Application:**
* Submit the completed application and supporting documents to the designated address or contact person.
* Follow the instructions provided by the agency.
## Tips for Applying
* Apply as soon as possible after the disaster occurs to maximize your chances of approval.
* Gather all required documentation before starting the application process.
* Be thorough and accurate when completing the application form.
* Provide evidence of your business’s financial losses or damages.
* If you are declined for a loan, consider exploring other financial assistance options, such as grants or insurance payouts.
* Seek professional guidance from a financial advisor or accountant if needed.