SBA Business Physical Disaster Loans

| Broward County Flooding

Loan program closes June 26, 2023 | Apply Here

If you own a business located in a declared disaster area that has experienced damage, you may be eligible for financial assistance from SBA. Businesses of any size and most private non-profit organizations may apply to SBA for a loan to recover after a disaster.


  • Up to $2 million to qualified businesses or most private nonprofit organizations to cover disaster losses not fully covered by insurance.
  • Covers disaster losses not fully covered by insurance or other sources. If required to apply insurance proceeds to an outstanding mortgage on the damaged property, that amount can be included in your disaster loan application.
  • Proceeds from insurance coverage on business property may be deducted from the eligible loan amount.

Use of Proceeds

Loan proceeds may be used for the repair or replacement of the following:

  • Real property
  • Machinery
  • Equipment
  • Fixtures
  • Inventory
  • Leasehold improvements

Disaster loan funds may not be used to upgrade or expand a business, except as required by building codes. If you apply for mitigation assistance to make improvements that help reduce the risk of future property damage caused by a similar disaster, you may be eligible for up to a 20% loan amount increase above the real estate damage, as verified by SBA. 


For applicants unable to obtain credit elsewhere:

  • The interest rate will not exceed 4%

For applicants who can obtain credit elsewhere:

  • The interest rate will not exceed 8%

SBA will determine whether an applicant can obtain credit elsewhere.


  • Up to 30 years, depending on ability to repay the loan
  • No pre-payment penalty or fees

Collateral Requirements

  • Required for loans over $25,000
  • Real estate is the preferred collateral. Loans of $200,000 or less will not require the owner of the business to use their primary residence as collateral if it is determined the owner has other assets of equal quality and of a value equal to or greater than the amount of the loan.

How to Apply

Need Help?

The Florida SBDC at FAU stands ready to help your small business recover. To request in-person assistance, visit and click Get No-Cost Consulting.” Enter “Broward County Flooding” in the Request Details section, and a representative will contact you to schedule assistance.