President Joe Biden has signed the American Relief Act, 2025 into law, providing funding for the U.S. Small Business Administration’s (SBA) Disaster Loan Program. This funding allows the SBA to resume processing financial relief for those impacted by Hurricanes Milton, Helene, and other natural disasters across the country.

“The SBA’s disaster loan program plays a vital role in helping communities recover by filling market gaps and providing the resources survivors need to rebuild stronger,” said SBA Administrator Isabel Casillas Guzman. “Thanks to the American Relief Act signed into law by President Biden, the SBA is ready to provide critical support to the thousands of families and businesses that have been waiting for relief to rebuild, reopen, and move forward.”

The Disaster Loan Program offers direct, low-interest, long-term loans to assist survivors of federally declared disasters with recovery efforts. Within 48 hours, over 21,000 individuals and businesses affected by these events can expect details of their loan offers as part of efforts to address a backlog caused by previous funding shortages.

As of October 15, 2024, the program had exhausted its funds preventing new loan issuances. Despite this lapse, applications continued being processed and approved pending additional resources. Applications remain open for recently declared disasters with encouragement from the SBA for those affected to apply at lending.sba.gov.

This initiative highlights SBA's commitment to supporting communities hit by natural disasters and ensuring financial aid reaches those in need.

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