SBA adds Flagler to list of counties eligible for business and household disaster loans


The U.S. Small Business Administration on Tuesday added Flagler County to the list of counties eligible for business and home disaster loans following Ian.

“This is great news for our businesses,” said Amy Lukasik, Director of Tourism Development. “There are a lot of companies that really need this lifeline.”

The loans available fall into three categories: business physical disaster loans, economic disaster loans, and home disaster loans.

“While these loans come from the Small Business Administration, homeowners and tenants are also getting relief,” Emergency Management Director Jonathan Lord said. “These loans are available to repair or replace disaster-damaged real estate and personal property, including automobiles.”

Disaster business loans available:

  • Physical Disaster Business Loans – Business loans to repair or replace disaster-damaged property owned by the business, including real estate, inventory, supplies, machinery and equipment. Businesses of all sizes are eligible. Private non-profit organizations such as charities, churches, private universities, etc. are also eligible. The deadline for submitting applications is November 28.

  • Economic Disaster Loans – Working capital loans to help small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private non-profit organizations of all sizes meet their ordinary financial obligations and necessary that cannot be met as a direct result of the disaster. These loans are meant to help through the disaster recovery period. The deadline for submitting applications is June 29, 2023.

Loan Amount Limits:

  • Business Loans – The law limits business loans to $2 million for the repair or replacement of real estate, inventory, machinery, equipment, and all other physical losses. Subject to this maximum, loan amounts cannot exceed the verified uninsured catastrophe loss.

  • Economic Disaster Loans – The law limits EIDLs to $2 million to mitigate economic damage caused by disaster. The actual amount of each loan is limited to the economic loss determined by the SBA, less business interruption insurance and other recoveries up to the administrative loan limit. EIDL assistance is available only to entities and their owners who cannot provide their own recovery from non-governmental sources, as determined by the US Small Business Administration.

  • Corporate Loan Cap – The $2 million statutory limit for corporate loans applies to the combination of physical, economic, mitigation and refinancing damages and applies to all disaster loans to a company and its affiliates for each disaster. If a business is a major source of employment, the SBA has the authority to waive the $2 million statutory limit.

  • Home Loans – SBA regulations limit home loans to $200,000 for repair or replacement of real property and $40,000 for repair or replacement of personal property. Subject to these caps, loan amounts cannot exceed the verified uninsured catastrophe loss.

Applicants can apply online, receive additional disaster assistance information, and download applications at Applicants may also call the SBA Customer Service Center at 800-659-2955 or email [email protected] for more information about SBA disaster assistance. People who are deaf, hard of hearing or have a speech impairment should dial 711 to access telecommunications relay services.

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