Isabella Casillas Guzman, administrator of the U.S. Small Business Administration (SBA) announced that the agency has delivered more than $110 million in disaster rescue funds to small businesses, homeowners, renters and nonprofit organizations recovering from damages caused by Hurricane Ida.
“From the Gulf Coast to the Northeastern states, Hurricane Ida left a wide swath of damage in its wake, and SBA’s mission-driven team is working hard to help affected small businesses and residents get the help they need swiftly and efficiently,” Guzman said. “We’re committed to providing federal disaster loans with a customer-centric approach to help businesses, individuals and communities recover and rebuild.”
As of Sept. 19, the SBA Office of Disaster Assistance (ODA) had approved more than 2,600 low-interest disaster loans delivering a combined $110 million in financial assistance to areas impacted by Hurricane Ida. The SBA is processing applications as quickly as possible and said it will continue to work to meet the needs of all those affected by this disaster.
Businesses, homeowners, renters and private nonprofit organizations in 49 counties and parishes across Louisiana, New Jersey, New York and Pennsylvania are eligible to apply for low-interest disaster loans to help repair the physical damage caused by Hurricane Ida. In addition, businesses and private nonprofit organizations can apply for Economic Injury Disaster Loans (EIDL) to help meet working capital needs caused by the disaster. For more information about the counties and parishes impacted, visit www.disasterloanassistance.sba.gov/ela/s/search-declarations.
Hurricane Ida disaster assistance adds to a growing total this year, as the SBA has now approved more than $267 billion to help residents across all 50 states and five territories recover from COVID-19 and natural disasters, including multiple hurricanes, floods, and wildfires, all of which have been rising in frequency and severity at significant physical, human, and economic costs. According to the U.N. World Meteorological Organization, seven out of 10 of the costliest disasters in the world in the last 50 years happened in the U.S. All of them were hurricanes and include Katrina in 2005 as well as Harvey, Irma and Maria in 2017. The report also found that climate-related disasters increased five times in the last 50 years.
Ongoing SBA Office of Disaster Assistance (ODA) Actions
As of September 2021, ODA personnel are responding to 60 open Presidential disaster declarations, 29 SBA Administrative disaster declarations, 57 Governor’s certifications, 168 Secretary of Agriculture declarations and one Military Reservist Economic Injury Disaster Loan declaration. ODA has also loaned nearly $425 million to individuals affected by natural disasters.
SBA’s ODA assists with disaster recovery in all 50 states, Washington, D.C., and the five U.S. territories of American Samoa, Guam, Northern Mariana Islands, Puerto Rico and the U.S. Virgin Islands.
Affected businesses and individuals may continue to apply online using the Electronic Loan Application (ELA) via SBA’s secure website at www.sba.gov/disasterassistance and should apply under SBA declaration #17147, not for the COVID-19 related Economic Injury Disaster Loan.
About the Office of Disaster Assistance
The Office of Disaster Assistance (ODA) helps businesses of all sizes, private nonprofit organizations, homeowners and renters recover from the devastation caused by federally declared disasters. Their efforts ensure that adequate and affordable financial assistance is rapidly extended to those in need. The disaster loan program is the only form of SBA assistance not limited to small businesses. Disaster Assistance has been part of the agency since its inception in 1953. To learn more, visit www.sba.gov/disasterassistance.
About the U.S. Small Business Administration
The U.S. Small Business Administration is the only resource and voice for small businesses backed by the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations.
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