SBA Offers Disaster Loans for Hurricane Helene

The U.S. Small Business Administration (SBA) has approved over $60 million in disaster assistance loans for Iowa, with nearly $50 million allocated for residents and about $10 million for businesses affected by severe weather earlier this summer. In Ohio, the SBA is offering Economic Injury Disaster Loans (EIDLs) for small businesses impacted by recent drought conditions, covering several counties in Ohio, Kentucky, and West Virginia. Florida is also eligible for low-interest disaster loans following Hurricane Helene, with the SBA committed to supporting recovery efforts in affected counties. Eligible businesses and nonprofits in Florida can borrow up to $2 million, while homeowners can receive up to $500,000 for repairs. Applications for these loans are encouraged before FEMA deadlines, with specific eligibility criteria based on financial condition and type of business. These initiatives underscore the SBA's role in providing critical support to communities recovering from natural disasters.