Federal Assistance Programs
Disaster Aid Program - Individual Assistance, Low-Interest Loans
|Florida Contact:||South Florida District Office|
|Address:||500 C Street, SW
Washington, D.C. 20472
Low-interest Disaster Loans
Available to individuals/businesses for property loss and economic injury (to cover uninsured property losses). Economic Injury Disaster Loans (EIDL): If your business has suffered substantial economic injury, regardless of physical damage, and is located in a declared disaster area, you may be eligible for financial assistance from the U.S. Small Business Administration in the form of a working capital loan.
Secretary of Agriculture Economic Loans
The purpose of the Secretary of Agriculture Economic Injury Disaster loan program is to provide economic assistance to businesses whose income is related to the economic condition of the farmers and have consequently suffered economic injury due to the loss or reduction of the farm income. Small businesses that have suffered substantial economic injury resulting from some event that has affected local crop and crop producers such as drought, freezing, excessive rainfall or other unfavorable growing conditions may be eligible for this program.
A working capital loan under this program could help your business meet the necessary financial obligations that your business could have met had the disaster not occurred. It provides relief from economic injury caused directly by the disaster and permits you to maintain a reasonable working capital position during the period affected by the disaster. Note: Small agricultural cooperatives are eligible for these types of loans. The SBA can provide up to $1.5 million in disaster assistance to a business in the form of working capital. The U.S. Department of Agriculture's Farm Service Agency (FSA) provides low-interest loans to farmers and ranchers for physical and production losses, repair or replacement of farm property and supplies, or repayment of farm operating debts incurred during the disaster year.