In response to the Presidential disaster declaration issued on Wednesday, the U.S. Small Business Administration (SBA) Disaster Loan Program is available to Alaska small businesses, private nonprofit (PNP) organizations and residents affected by severe storms, flooding, and remnants of Typhoon Halong that occurred October 8-13. The disaster declaration covers the Lower Kuskokwim REAA, Lower Yukon REAA & Northwest Arctic Borough.
 
SBA offers disaster assistance in the form of low interest loans. These loans are the primary source of federal assistance to help private property owners pay for losses not covered by insurance or other recoveries. Enclosed please find the program fact sheet, please feel free to share it on your website and social media. Please let me know if you would like me to visit discuss further.
Type of Disaster Loans:
 
Homeowners: may borrow up to $500,000 to repair or rebuild/replace their primary residence to its pre-disaster condition.
Interest rates as low as 3% fixed for up to a 30-year term.
Renters & Homeowners: up to $100,000 to repair or replace personal property.
Interest rates as low as 3% fixed for up to a 30-year term.
Businesses/Non-profits:
 
Property Damage: up to $2,000,000 available to businesses of any size and private, non-profit organizations.
Funds may be used to pay:

• Repairs or replacement of real estate
• Purchase machinery and equipment
• Buy inventory and other assets that were damaged or destroyed

Interest rates as low as 4% for businesses and 3.625% for Non-Profit Organizations for a term up to 30 years.
 
Economic Injury: up to $2,000,000 for working capital to help pay obligations until normal operations resume.
Funds may be used to pay:

• Payroll
• Lease/mortgage payments
• Utilities payments
• Vendor payments
• Bank debt payments
• Business credit cards

Interest rates as low as 4% for businesses and 3.625% for Non-Profit Organizations for a term up to 30 years.
 

• You can apply for an SBA loan the same day you register with FEMA.
• If approved, you’re not obligated to take a loan
• You don’t have to wait for your insurance to settle.
• All loans have a 12-month deferrement and no interest accrues during this time.
• Applicants may increase their loans by up to 20% of verified physical damages to add mitigation measures to their primary residence or businesses.
• Loan amounts and terms are set by SBA and are based on each applicant’s financial condition.

 
Applications for disaster loans may be submitted online using the MySBA Loan Portal at  https://lending.sba.gov. Please contact the SBA’s Customer Service Center by email at disastercustomerservice@sba.gov or by phone at 1-800-659-2955 for further 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 deadline to apply for property damage is Dec. 22, 2025. The deadline to apply for economic injury is July 22, 2026.
 
Please let me know if I can be of any further assistance.