ATLANTA – The U.S. Small Business Administration (SBA) is extending the physical damage loan deadline for disaster declarations affected by the 2024 federal funding lapse. The new deadline to apply is April 27, 2025.
The disaster declaration covers Alachua, Baker, Bradford, Brevard, Charlotte, Citrus, Clay, Collier, Columbia, DeSoto, Dixie, Duval, Flagler, Franklin, Gilchrist, Glades, Gulf, Hamilton, Hardee, Hernando, Hendry, Highlands, Hillsborough, Indian River, Jefferson, Lafayette, Lake, Lee, Leon, Levy, Madison, Manatee, Marion, Martin, Okeechobee, Orange, Osceola, Palm Beach, Pasco, Pinellas, Polk, Putnam, Sarasota, Seminole, St. Johns, St. Lucie, Sumter, Suwannee, Taylor, Union, Volusia Wakulla counties, as well as the Miccosukee Tribe of Indians of Florida.
Businesses and nonprofits are eligible to apply for business physical disaster loans and may borrow up to $2 million to repair or replace disaster-damaged or destroyed real estate, machinery and equipment, inventory, and other business assets.
Homeowners and renters are eligible to apply for home and personal property loans and may borrow up to $100,000 to replace or repair personal property, such as clothing, furniture, cars, and appliances. Homeowners may apply for up to $500,000 to replace or repair their primary residence.
Applicants may also be eligible for a loan increase of up to 20% of their physical damages, as verified by the SBA, for mitigation purposes. Eligible mitigation improvements include strengthening structures to protect against high wind damage, upgrading to wind rated garage doors, and installing a safe room or storm shelter to help protect property and occupants from future damage.
"One distinct advantage of SBA’s disaster loan program is the opportunity to fund upgrades reducing the risk of future storm damage," said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. "I encourage businesses and homeowners to work with contractors and mitigation professionals to improve their storm readiness while taking advantage of SBA’s mitigation loans."
The loan amount can be up to $2 million with interest rates as low as 4% for small businesses, 3.25% for PNPs, and 2.813% for homeowners and renters, with terms up to 30 years. Interest does not accrue, and payments are not due, until 12 months from the date of the first loan disbursement. The SBA sets loan amounts and terms based on each applicant’s financial condition.
SBA customer service representatives will be on hand at five Business Recovery Centers and a Business Resource and Assessment Center to answer questions about SBA’s disaster loan program, explain the application process and help individuals complete their application. Walk-ins are accepted, but you can schedule an in-person appointment in advance at appointment.sba.gov. The centers hours of operation are listed below:
Business Recovery Center (BRC)
Charlotte County
Port Charlotte Town Center Mall
1441 Tamiami Trail
Port Charlotte, FL 33948
Hours: Monday - Friday, 10 a.m. to 6 p.m.
Saturday, 10 a.m. to 2 p.m.
Closed: Sunday
Business Resource and Assessment Center (BRAC)
Hillsborough County
Entrepreneur Collaborative Center
2101 E Palm Ave
Tampa, FL 33605
Hours: Monday - Thursday, 8 a.m. to 5 p.m.
Friday, 8 a.m. to 3 p.m.
Closed: Saturday and Sunday
Business Recovery Center (BRC)
Manatee County
Rocky Bluff Branch Library
6750 US-301
Ellenton, FL 34222
Hours: Monday – Saturday, 9 a.m. to 6 p.m.
Closed: Sunday
Business Recovery Center (BRC)
Manatee County
Tingley Memorial Library
111 2nd St N.
Bradenton, FL 34217
Hours: Monday - Friday, 8 a.m. to 5 p.m.
Closed: Saturday and Sunday
Business Recovery Center (BRC)
Pinellas County
Epicenter at St. Petersburg College
13805 58th St N
Clearwater, FL 33760
Hours: Monday – Friday, 8 a.m. to 5 p.m.
Closed: Saturday and Sunday
Business Recovery Center (BRC)
Volusia County
UCF Business Incubator Volusia County
601 Innovation Way
Daytona Beach, FL 32771
Hours: Monday – Friday, 9 a.m. to 6 p.m.
Closed: Saturday and Sunday
With the changes to FEMA’s Sequence of Delivery, survivors are now encouraged to simultaneously apply for FEMA grants and the SBA low-interest disaster loan assistance to fully recover. FEMA grants are intended to cover necessary expenses and serious needs not paid by insurance or other sources. The SBA disaster loan program is designed for your long-term recovery, to make you whole and get you back to your pre-disaster condition.
To apply online, visit SBA.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.
The filing deadline to return applications for physical property damage is April 27, 2025.
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About the U.S. Small Business Administration
The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.