The U. S. Small Business Administration can approve loans for businesses on uncompensated losses for uninsured losses and for which no grant has been provided.
Business Physical Disaster Loans:
Repair or replace disaster damaged property, including real estate, inventories, supplies, machinery and equipment to include charities, churches, private universities, etc. Collateral for over $14,000.
Economic Injury Disaster Loans:
Ordinary and necessary financial obligations for small businesses, including small agricultural organizations and non-profit organizations. Collateral for over $5,000.
Law determines interest rates:
Credit rating defines lower interest rates
Business loans - 6%; Nonprofit - 4.5% (3 years)
No credit available - business, nonprofit and econ injury - 4% (30 years)
Up to $67,500 for small project grants under the Public Assistance Program.
Up to $2 million for businesses; ceiling may be waived based upon SBA determination.