SBA Disaster Loans Available for September Flood Damage » CBIA

October 8, 2026 - 20:32

Business owners in areas hit by severe flooding in September can now apply for federal disaster loans to help cover their losses. The program offers direct funding to companies struggling to recover from the damage.

Eligible applicants may borrow up to 2 million dollars. The money can be used to replace real property, inventory, machinery, equipment, and other physical assets destroyed or damaged in the floods. The loans are intended for businesses of all sizes, as well as private nonprofit organizations that provide essential services.

Interest rates for the program are set below market levels, and repayment terms can stretch for decades depending on the borrower's financial situation. Applicants do not need to have been turned down by a bank before applying, though they must demonstrate an ability to repay the loan.

The application process requires documentation of the damage, financial statements, and proof that the business operated in a declared disaster area. Officials encourage owners to file as soon as possible, since deadlines apply and funds are limited.

For many small companies, the flooding destroyed not just buildings but also the tools and stock they rely on to earn a living. Without outside help, reopening can take months or become impossible. These loans offer a path to rebuild, replace what was lost, and get back to serving customers. Business owners who suffered damage should contact the appropriate federal agency or visit a local recovery center to start the paperwork.