The U.S. Small Business Administration (SBA) has announced the opening of a Disaster Loan Outreach Center in St. Louis County, Missouri, to assist those affected by severe weather events in March. The center, located at the Florissant Valley Branch of the St. Louis County Library, will open on May 30 and provide support to small businesses, private nonprofit organizations, and residents impacted by storms, tornadoes, and wildfires.
Chris Stallings from the SBA's Office of Disaster Recovery and Resilience stated that these centers play a crucial role in helping communities recover from disasters. "At these centers, our SBA specialists help business owners and residents apply for disaster loans and learn about the full range of programs available to support their recovery," he said.
Eligible businesses can apply for physical disaster loans up to $2 million for repairing or replacing damaged assets. Homeowners may borrow up to $500,000 for their primary residence repairs and up to $100,000 for personal property replacement.
The SBA also offers Economic Injury Disaster Loans (EIDL) for small businesses and nonprofits experiencing financial losses due to the disasters. These loans are available even if no physical damage occurred.
Interest rates vary with terms extending up to 30 years. Businesses can apply online or seek assistance through the SBA's Customer Service Center.
The deadline for physical property damage applications is July 21, 2025; economic injury applications are due by February 23, 2026.