SBA Announces Major Changes to Its Disaster Lending Program

In August, the U.S. Small Business Administration announced increased support for disaster survivors and small businesses following federally designated disasters.

Key changes include:

• Increased loan limits for primary residences
• Increased loan limits for personal property
• Removal of administrative limit on landscaping
• Increased initial payment deferral period
• No interest accrual in first 12 months
• Mitigation disaster loans
• Collateral requirements
• Reduction in documents required to request reconsideration
• Eligibility expanded to consumer or marketing cooperatives

View the press release below for more information.

New SBA Regulations Press Release