SBA Offers Low-Interest Disaster Loans to Washington County Residents and Businesses

The U.S. Small Business Administration has announced disaster loans for residents and businesses impacted by the severe winter storm that affected Mississippi from January 23 to 27. The loans aim to help cover property damage, economic injury, and personal property losses.

Eligible applicants include businesses, private nonprofits, homeowners, and renters in certain counties, including Washington County. Loan options include up to $2 million for businesses and nonprofits, up to $500,000 for homeowners, and up to $100,000 for renters and homeowners for personal property. Interest rates start as low as 2.875%, with terms up to 30 years. No interest or payments are due for the first 12 months after disbursement, according to the SBA.

Applicants can seek assistance for damages to physical property, such as homes, vehicles, appliances, furniture, and clothing, as well as mitigation improvements like storm shelters and wind-rated garage doors. Residents are encouraged to apply for both FEMA assistance and SBA loans to support full recovery efforts.

The deadline to apply for physical property damage is June 10, 2026, while applications for economic injury are due by January 11, 2027. Applications can be submitted online at sba.gov/disaster or by calling (800) 659-2955. The SBA urges community members to share this information to ensure access to support during recovery.

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