Deadline Nears for Businesses Seeking SBA Loans for Milton Recovery
Posted On: June 12, 2025
Volusia County businesses and private nonprofit organizations impacted by Hurricane Milton have until July 11 to apply for a federal Economic Injury Disaster Loan through the U.S. Small Business Administration (SBA).
These low-interest loans are designed to help small businesses, small agricultural cooperatives, and most private nonprofits recover from financial losses caused by the hurricane. These loans are intended to cover working capital needs, including fixed debts, payroll, accounts payable, and other bills that could not be paid due to the disaster—even if no physical damage occurred.
Loan amounts can reach up to $2 million, with interest rates as low as 4% for small businesses and 3.25% for private nonprofits. Loan terms can extend up to 30 years. Payments are deferred for the first 12 months after the initial disbursement, and final terms are determined based on each applicant’s financial condition.
Interested applicants can apply online at www.sba.gov/disaster. For assistance, they may also call SBA’s Customer Service Center at 800-659-2955 or email disastercustomerservice@sba.gov.
