US Small Business Administration - Disaster Recovery Relief for Mainers affected by severe storms and flooding

The U.S. Small Business Administration (SBA) is in Maine doing outreach for disaster recovery for severe storms and flooding based on a Presidential Disaster Declaration issued January 30, 2024.  SBA has low-interest loans for physical damage for homeowners, renters, private nonprofits, and businesses. In addition, we have Economic Injury Disaster Loans (EIDL) that do not require any physical damage by the borrower for private nonprofits and small businesses. The EIDL is a working capital loan to help pay for ordinary and necessary operating expenses to recover from revenue loss.

Disaster survivors with insurance should not wait for their insurance settlement before applying to the SBA. The SBA can make a loan for the total loss and use insurance proceeds to reduce or repay the loan.

Important points about SBA low-interest Disaster Loans:

1.           No application fee.

2.           No obligation to accept the loan after it is approved. Applicants/Survivors have 60-days to decide to accept and can ask for more time if they need to reevaluate their recovery situation.

3.           No prepayment penalty.

4.           No accrued interest for first 12 months of the loan.

5.           No required payments for first 12 months of the loan.

Apply in person at a Disaster Recovery Center or a Business Recovery Center or apply online using the Electronic Loan Application (ELA) via the SBA’s secure website at https://disasterloanassistance.sba.gov/ela/s/. Disaster loan information and application forms can also be obtained by calling the SBA’s Customer Service Center at 800-659-2955 and at https://disasterloanassistance.sba.gov/ela/s/loan-information. 

The current locations where one may apply in person for assistance are at FEMA Disaster Recovery Centers (DRC) where there are FEMA as well as SBA representatives who will help anyone apply in person. The Oxford County location also has a separate SBA Business Recovery Center (BRC) where survivors may apply for SBA loans.

Androscoggin County DRC: Lewistown Armory, 65 Central Ave., Lewiston, ME 04240 - Open Everyday 8AM-6PM

Franklin County DRC: University of Maine, Roberts Learning Center, 270 Main St., Farmington, ME 04938 - Open Everyday 8AM-6PM

Kennebec County DRC: Manchester Fire Department, 37 Readfield Rd., Manchester, ME 04351 - Open Everyday 8AM-6PM

Oxford County Joint FEMA DRC & SBA BRC: Rumford Municipal Building, 145 Congress St., Rumford, ME 04276 - Open Everyday 8AM-6PM

Somerset County DRC: Somerset County Emergency Management Operations Center (EOC), 4 County Dr., Skowhegan, ME 04976 - Open Everyday 8AM-6PM