Low-interest disaster loans now available
WASHINGTON – Following a Presidential disaster declaration issued April 10, 2026, the U.S. Small Business Administration (SBA) announced the availability of low-interest federal disaster loans for communities impacted by the severe winter storm that occurred Jan. 23–27, with primary attention on Attala County and additional support extended to surrounding central Mississippi counties.
In Attala County, businesses, private nonprofits, homeowners, and renters are eligible to apply for SBA disaster assistance to help recover from storm-related losses. The declaration also includes nearby counties such as Carroll, Holmes, Choctaw, Leake, Neshoba, and Winston, which are eligible for certain SBA programs, primarily Economic Injury Disaster Loans (EIDLs) for businesses and private nonprofits.
Businesses and most private nonprofit organizations in eligible counties may apply for SBA Economic Injury Disaster Loans to help meet working capital needs caused by the disaster. These loans can be used to cover normal operating expenses such as payroll, rent, utilities, and other fixed debts that cannot be met due to the storm’s impact.
In addition, businesses may apply for physical disaster loans of up to $2 million to repair or replace damaged real estate, equipment, inventory, and other business assets.
Homeowners in Attala County and nearby eligible areas may apply for up to $500,000 to repair or replace their primary residence. Renters and homeowners may also qualify for up to $100,000 to replace personal property such as clothing, furniture, vehicles, and appliances.
Applicants may also qualify for an additional loan increase of up to 20% of verified physical damages for mitigation improvements. These may include upgrades such as reinforced roofing, storm-resistant doors, or safe rooms designed to reduce future storm damage.
Interest rates are as low as 4% for small businesses, 3.625% for private nonprofits, and 2.875% for homeowners and renters, with repayment terms of up to 30 years. Payments and interest do not begin until 12 months after the first disbursement.
“Through a presidential declaration, SBA provides financial assistance to help communities recover,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “We offer disaster loans to homeowners, renters, businesses, and private nonprofits affected by the disaster.”
Survivors are encouraged to apply for both FEMA grants and SBA low-interest disaster loans as part of the recovery process. FEMA assistance may cover immediate needs, while SBA loans support long-term rebuilding and recovery.
Applications can be completed online at sba.gov/disaster, or by calling the SBA Customer Service Center at (800) 659-2955, or emailing [email protected]. Individuals who are deaf, hard of hearing, or have a speech disability may dial 7-1-1 for relay services.
The deadline to apply for physical damage loans is June 10, and the deadline for economic injury applications is Jan. 11, 2027.
