The U.S. Small Business Administration (SBA) has announced the availability of low-interest federal disaster loans for Nebraska small businesses, private nonprofits, and residents affected by severe storms and flooding that took place on June 25-26. The SBA made this declaration following a request from Governor Jim Pillen on July 24.
The disaster declaration applies to Adams, Buffalo, Hall, Hamilton, Howard, and Merrick counties in Nebraska. Businesses and nonprofits in these areas can apply for business physical disaster loans of up to $2 million to repair or replace damaged or destroyed real estate, machinery, equipment, inventory, and other assets.
Homeowners may borrow up to $500,000 to repair or replace their primary residence. Both homeowners and renters are eligible for up to $100,000 in loans for personal property losses such as clothing, furniture, cars, and appliances.
Applicants may also qualify for a loan increase of up to 20% of their verified physical damage amount for mitigation purposes. Eligible improvements include insulating pipes and attics, weather stripping doors and windows, and installing storm windows.
Small businesses, small agricultural cooperatives, nurseries, and private nonprofit organizations—including faith-based groups—can access the SBA’s Economic Injury Disaster Loan (EIDL) program if they have suffered financial losses related to the disaster. However, agricultural producers such as farmers or ranchers are not eligible unless they operate aquaculture enterprises.
EIDLs provide working capital even if no physical damage occurred. These funds can be used for fixed debts, payroll costs, accounts payable, and other bills impacted by the disaster.
Interest rates are set at 4% for small businesses; 3.625% for private nonprofits; and 2.813% for homeowners and renters. Repayment terms can extend up to 30 years based on each applicant’s financial situation. Interest does not accrue nor are payments due until 12 months after the first loan disbursement.
“When disasters strike, SBA’s Disaster Loan Outreach Centers play a vital role in helping small businesses and their communities recover,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “At these centers, SBA specialists assist business owners and residents with disaster loan applications and provide information on the full range of recovery programs available.”
Starting at noon on Wednesday, July 30th, an SBA Disaster Loan Outreach Center will open at Grand Island/Hall County Emergency Management & Communications in Grand Island. The center will operate Monday through Friday from 8:00 a.m. to 4:30 p.m., where customer service representatives will help applicants understand the loan process and complete their applications.
Walk-ins are accepted at the center but appointments can also be scheduled online at appointment.sba.gov.
Applications can also be submitted online at https://www.sba.gov/disaster or by calling (800) 659-2955. Email inquiries can be sent to disastercustomerservice@sba.gov. Telecommunications relay services are available by dialing 7-1-1 for those who are deaf or hard of hearing.
The deadline for submitting applications for physical damage is September 26, 2025; economic injury applications must be returned by April 28, 2026.