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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