Small Business Administration Information
U. S. Small Business Administration (SBA)
- SBA offers low-interest federal disaster loans to Oklahoma residents and businesses impacted by the severe storms and tornadoes that began May 18, 2013 in the Oklahoma counties of Cleveland, Lincoln, McClain, Oklahoma and Pottawatomie.
NOT JUST FOR SMALL BUSINESSES
Loans for repairing or replacing disaster-damaged property
- Homeowners may borrow up to $200,000 to repair or replace their disaster-damaged primary residence.
- Homeowners and renters may borrow up to $40,000 to replace disaster-damaged personal property, including vehicles.
- Businesses of any size and private, non-profit organizations may borrow up to $2 million to repair or replace disaster-damaged real estate, machinery and equipment, inventory and other assets.
- Interest rates can be as low as 1.875% for homeowners and renters, 4% for businesses and 2.875% private non-profit organizations. Terms may be up to 30 years, SBA determines loan amounts and terms based on each applicant’s financial condition.
Loans to help meet working capital needs caused by the disaster
- Small businesses, small businesses engaged in aquaculture and most private, non-profit organizations of any size may borrow to help meet working capital needs caused by the disaster (regardless of whether the business suffered any property damage) The maximum business disaster loan is $2 million for any combination of property damage and working capital.
Three ways to apply
1. Apply in person at any Disaster Recovery Center or Business Recovery Center (see below for locations)
2. Apply online using SBA’s secure Web site at https://disasterloan.sba.gov/ela
3. Apply by mailing your application to SBA at 14925 Kingsport Rd., Ft. Worth, TX 76155-2243
SBA disaster representatives are at the following location will meet individually with residents and business owners to explain how an SBA low-interest disaster loan can help pay for their disaster losses, answer questions, and help each individual complete their application. We will forward information on additional locations as they open.
The SBA Business Recovery Center is open as indicated below. No appointment is necessary.
Moore Norman Technology Center
South Penn Campus
Business Development Center Bldg.
13301 S Pennsylvania Avenue
Oklahoma City, OK 73170
Mondays through Fridays, 9 am to 6 pm
& Saturdays, 9 am to 1 pm until further notice
Disaster victims may call (800) 659-2955 for updates on center locations
Links to SBA’s website for –
SBA disaster assistance information
Apply on line at
Information on this disaster
Locations in Oklahoma to meet with SBA