ROANOKE, Va. (WFXR) – The US Small Business Administration (SBA) is offering disaster relief to Virginians affected by Hurricane Helene; however, the filing deadline is approaching on Monday, December 2.
If you suffered physical damage because of Helene, the application deadline is on Monday, December 2. Anyone who was impacted economically will have until July 1, 2025, to apply.
What Types of Disaster Loans are Available?
Business Physical Disaster Loans are funds to repair or replace damaged property owned by a business. This includes real estate, inventory, supplies, and machinery and equipment. The Small Business Administration says businesses of any size are eligible, as well as private and non-profit organizations including charities, churches, and private universities.
Economic Injury Disaster Loans (EIDL) provide working capital to small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private, non-profit organizations regardless of size that cannot meet their financial obligations as a direct result of Helene.
Home Disaster Loans are available to homeowners and renters for the repair or replacement of damaged real estate and personal property, including automobiles.
To apply, applicants must have a credit history acceptable to the SBA and must show the ability to repay all loans.
| Physical Damage Loan Types | No Credit Available Elsewhere | Credit Available Elsewhere |
| Home Loans | 2.813% | 5.625% |
| Business Loans | 4.000% | 8.000% |
| Non-Profit Organizations | 3.250% | 3.250% |
Residents of the following Counties may be eligible for disaster relief loans:
Bedford, Bland, Carroll, City of Galax, Giles, Grayson, Lee, Montgomery, Pittsylvania, Pulaski, City of Radford, Russell, Scott, Smyth, Tazewell, Washington, Wise, and Wythe; for economic injury only in the contiguous Virginia counties of: Amherst, City of Bristol, Buchanan, Botetourt, Campbell, Craig, City of Danville, Dickenson, Floyd, Franklin, Halifax, Henry, City of Lynchburg, Patrick, Rockbridge, and Roanoke County; for economic injury only in the contiguous Kentucky counties of: Bell, Harlan, Letcher, and Pike; for economic injury only in the contiguous North Carolina counties of: Alleghany, Ashe, Caswell, Rockingham, and Surry.
All the detailed information on eligibility terms and conditions is on the US Small Business Administration Disaster Loan Fact Sheet.
Applications for disaster loans may be submitted online using the MySBA Loan Portal at https://lending.sba.gov or other locally announced locations. Please contact the SBA’s Customer Service Center by email at disastercustomerservice@sba.gov or by phone at 1-800-659-2955 for further assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.