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Low-interest Federal Disaster Loans are available for Arizona businesses and residents affected by severe storms, flooding, mudslides and debris flows that occurred July 23 through August 28 2022, announced administrator Isabella Casillas Guzman of the US Small Business Administration. The SBA acted on its own authority to declare a disaster in response to a request the SBA received from Governor Douglas Ducey on September 16, 2022. The disaster declaration makes SBA assistance available in Coconino, Gila counties , Mohave, Navajo and Yavapai in Arizona; and Kane and San Juan counties in Utah.

Businesses and Residents, SBA, US Small Business Administration, Yavapai County,

“SBA’s mission-focused team is ready to help small businesses and Arizona residents impacted by severe storms, flooding, mudslides and debris flows,” said Administrator Guzman . “We are committed to providing federal disaster loans quickly and efficiently, with a client-centric approach to help businesses and communities recover and rebuild.”

“Low-interest Federal Disaster Loans are available to businesses of all sizes, most private non-profit organizations, homeowners and renters whose property was damaged or destroyed by this disaster” said SBA Director Tanya N. Garfield of the US Small Business Administration’s Disaster Field Operations. Midwest.

Businesses of all sizes and private nonprofit organizations can borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory, and other business assets. The SBA can also lend additional funds to businesses and homeowners to help cover the cost of improvements to protect, prevent, or minimize the same type of disaster damage in the future.

For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private nonprofit organizations of any size, SBA offers economic disaster loans to help meet the capital needs of turnover caused by the disaster. Economic injury assistance is available whether or not the business has suffered property damage.

Disaster loans of up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Landlords and tenants can receive up to $40,000 to repair or replace damaged or destroyed personal property.

Interest rates can be as low as 2.935% for businesses, 1.875% for private nonprofits, and 1.688% for homeowners and tenants with terms up to 30 years. Loan amounts and terms are set by the SBA and are based on each applicant’s financial situation.

Applicants can apply online, receive additional information about disaster assistance, and upload applications at https://disasterloanassistance.sba.gov/. Applicants may also call the SBA Customer Service Center at (800) 659-2955 or email [email protected] for more information about SBA disaster assistance. For people who are deaf, hard of hearing or have a speech impediment, please dial 7-1-1 to access telecommunications relay services. Completed applications should be mailed to US Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

The deadline to file a property damage claim is November 18, 2022. The deadline to file an economic loss claim is June 19, 2023.

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