06/01/2026
SBA Relief Still Available to Mississippi Businesses, Private
Nonprofits, and Residents Affected by the Severe Winter Storm
Deadline for physical damage loans approaching
WASHINGTON –The U.S. Small Business Administration (SBA) is reminding eligible businesses,
private nonprofit (PNP) organizations, homeowners, and renters in Mississippi of the June 10
deadline to apply for low-interest federal disaster loans to offset losses from physical damage
caused by a severe winter storm occurring Jan. 23 – 27.
The declaration covers Mississippi primary counties of Adams, Alcorn, Attala, Benton, Bolivar,
Calhoun, Carroll, Claiborne, Coahoma, Desoto, Grenada, Holmes, Humphreys, Issaquena,
Jefferson, Lafayette, Lee, Leflore, Marshall, Montgomery, Panola, Pontotoc, Prentiss, Quitman,
Sharkey, Sunflower, Tallahatchie, Tate, Tippah, Tishomingo, Tunica, Union, Warren, Washington,
Yalobusha, Yazoo, and the Mississippi Band of Choctaw Indians, which are eligible for both
Physical damage loans and Economic Injury Disaster Loans (EIDLs) from the SBA. Small
businesses and most private nonprofit (PNP) organizations in the following adjacent counties are
eligible to apply only for SBA EIDLs: the Mississippi counties of Chickasaw, Choctaw, Copiah,
Franklin, Hinds, Itawamba, Leake, Lincoln, Madison, Monroe, Neshoba, Webster, Wilkinson, and
Winston, and the Alabama counties of Colbert, Franklin, and Lauderdale, and the Arkansas
counties of Chicot, Crittenden, Desha, Lee, and Phillips, and the Louisiana parishes of Concordia,
East Carroll, Madison, and Tensas, as well as Tennessee counties of Fayette, Hardeman, McNairy,
and Shelby.
Businesses and nonprofits are eligible to apply for business physical disaster loans and may
borrow up to $2 million to repair or replace disaster-damaged or destroyed real estate, machinery
and equipment, inventory, and other business assets.
Homeowners and renters are eligible to apply for home and personal property loans and may
borrow up to $100,000 to replace or repair personal property, such as clothing, furniture, cars, and
appliances. Homeowners may apply for up to $500,000 to replace or repair their primary
residence.
Applicants may also be eligible for a loan increase of up to 20% of their physical damages, as
verified by the SBA, for mitigation purposes. Eligible mitigation improvements include
strengthening structures to protect against high wind damage, upgrading to wind rated garage
doors, and installing a safe room or storm shelter to help protect property and occupants from
future damage.
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Interest rates are as low as 4% for small businesses, 3.625% for PNPs, and 2.875% for
homeowners and renters, with terms of up to 30 years. Interest does not begin to accrue, and
payments are not due, until 12 months from the date of the first loan disbursement. The SBA sets
loan amounts and terms, based on each applicant’s financial condition.
“One distinct advantage of SBA’s disaster loan program is the opportunity to fund upgrades
reducing the risk of future storm damage,” said Chris Stallings, associate administrator of the
Office of Disaster Recovery and Resilience at the SBA. “I encourage businesses and homeowners
to work with contractors and mitigation professionals to improve their storm readiness while
taking advantage of SBA’s mitigation loans.”
With the changes to FEMA’s Sequence of Delivery, survivors are now encouraged to
simultaneously apply for FEMA grants and the SBA low-interest disaster loan assistance to fully
recover. FEMA grants are intended to cover necessary expenses and serious needs not paid by
insurance or other sources. The SBA disaster loan program is designed for your long-term
recovery, to make you whole and get you back to your pre-disaster condition.
To apply online, visit sba.gov/disaster. Applicants may also call SBA’s Customer Service Center at
(800) 659-2955 or email [email protected] for more information on SBA disaster
assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1
to access telecommunications relay services.
The filing deadline to return applications for physical property damage is June 10. The deadline
to return economic injury applications is Jan. 11, 2027. However, after the deadline has passed,
there is a 60-day grace period in which SBA will accept applications.
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