Does the SBA make loans to individuals or just businesses?
The SBA can loan money to homeowners, renters, and business owners. Homeowners may borrow up to $200,000 for disaster-related home repairs. Homeowners and renters may borrow up to $40,000 to replace disaster-damaged personal property including vehicles. The SBA may not duplicate benefits from your insurance or FEMA. You may receive an SBA referral when you apply with FEMA. If the applicant does not qualify for a low-interest SBA loan, FEMA may be able to offer them additional disaster grants that help reimburse for lost personal property, vehicle repair or replacement, and moving and storage expenses.