U.S. Small Business Administration offers loans for disaster recovery for severe storms and tornadoes March 31st and April 1st

The U.S. Small Business Administration (SBA) is offering loans for disaster recovery for severe storms and tornados that occurred on March 31 and April 1. They have low-interest loans for physical damage for homeowners, renters, private nonprofits, and businesses. In addition, they have Economic Injury Disaster Loans (EIDL) that do not require any physical damage by the borrower for private nonprofits and small businesses. The EIDL is a working capital loan to help pay for ordinary and necessary operating expenses to recover from revenue loss.

Apply online using the Electronic Loan Application (ELA) via the SBA’s secure website at https://disasterloanassistance.sba.gov/ela/s/. Disaster loan information and application forms can also be obtained by calling the SBA’s Customer Service Center at 800-659-2955 and at https://disasterloanassistance.sba.gov/ela/s/loan-information.