SBA Disaster Assistance Loans
Providing small businesses
with the capital they need
to recover after a disaster.
Get the Help You Need, When You Need It Most
SBA Disaster
Assistance Loans
In the face of unexpected challenges, Faster Funding is here to guide your business through disaster recovery with SBA Disaster Assistance Loans. Designed to support businesses in declared disaster areas, our service helps you access low-interest loans from the SBA to repair, rebuild, and recover.
Get the Funds You Need
Small business lows up to $2M
Easy to Manage Payments
Repayment terms up to 30 years
Low Interest Rates
Interest rates as low as 4%
Our Different Types
of SBA Disaster Assistance Loans
Physical Damage Loans
Loans to repair or replace damaged physical assets such as:
- Real property
- Machinery
- Equipment
- Inventory
- Fixtures
Loan amount: Up to $2 million
Terms:
- Deferred first payment and no interest accrual for 12 months
- Interest rate of 4% or less (if credit is not available elsewhere) or up to 8% (if credit is available elsewhere)
- Maturity: Up to 30 years, with flexible repayment options
- Collateral required for loans over $50,000
Economic Injury Disaster Loans (EIDL)
Financial support to cover your small business operating expenses after a disaster.
Loan amount: Up to $2 million for both EIDL and physical damage loans combined
Eligibility:
For small businesses, small agricultural cooperatives, and private nonprofit organizations suffering substantial economic injury due to a disaster.
Terms:
- Deferred payments and no interest accrual for the first 12 months
- Interest rates of 4% or less
- Maturity: Up to 30 years
- Collateral required for loans over $50,000
The Small Business Administration does not provide loans (except those through the Disaster Loan program)–they help small businesses get loans by guaranteeing a significant portion of loans offered by participating lenders. The SBA sets detailed standards these loans must meet. If the lender has followed the SBA guidelines and the borrower defaults, the SBA will pay the guaranty amount to the lender. The SBA may try to collect from the defaulted borrower (as a federal agency it has some significant collection powers).
Who Can Apply for an SBA Disaster Assistance Loan?
Businesses of all sizes and private nonprofit organizations located in a declared disaster area can apply. You may be eligible if you meet the specific requirements for the type of loan you’re applying for.
Why Choose Faster Funding?
At Faster Funding, we make the SBA Disaster Loan application process easy, quick, and efficient. Here’s how we help:
- Streamlined Application: We simplify the process so you can focus on rebuilding.
- Expert Guidance: We walk you through every step, ensuring you meet the eligibility criteria.
- Fast Funding: Get the funds you need as soon as possible to minimize disruptions to your business.
We understand that time is of the essence when it comes to SBA Disaster Assistance loans and our team of experienced professionals is dedicated to providing exceptional customer service and support, and we’re always available to answer any questions or concerns you may have.
Get Started
Contact us to learn more about our SBA 7(a) loan program. Our team of experts is standing by to help you find the perfect financial solution for your business.