In response to a presidential disaster declaration issued June 30, the U.S. Small Business Administration (SBA) announced the availability of low-interest disaster loans for Michigan businesses, private nonprofits, and residents affected by severe storms, tornadoes and flooding that occurred April 10–21, 2026.
The declaration covers the Michigan primary counties of Alcona, Allegan, Alpena, Antrim, Barry, Benzie, Charlevoix, Cheboygan, Crawford, Emmet, Grand Traverse, Gratiot, Iosco, Kalamazoo, Kalkaska, Manistee, Mecosta, Montcalm, Muskegon, Newaygo, Oceana, Osceola, Presque Isle, Roscommon, Saginaw, Washtenaw and Wexford, which are eligible for both physical damage loans and Economic Injury Disaster Loans (EIDL) from the SBA.
Businesses and nonprofits are eligible to apply for business physical disaster loans and may borrow up to $2 million to repair or replace disaster-damaged or destroyed real estate, machinery and equipment, inventory and other business assets.
Homeowners and renters are eligible to apply for home and personal property loans and may borrow up to $100,000 to replace or repair personal property, such as clothing, furniture, cars and appliances. Homeowners may apply for up to $500,000 to replace or repair their primary residence.
Applicants may also be eligible for a loan increase of up to 20% of their physical damage, as verified by the SBA, for mitigation purposes. Eligible mitigation improvements include strengthening structures to protect against high wind damage, upgrading to wind-rated garage doors, and installing a safe room or storm shelter to help protect property and occupants from future damage.
SBA’s EIDL program is available to eligible small businesses, small agricultural cooperatives, and private nonprofits — including faith-based organizations — impacted by financial losses directly related to this disaster. The SBA is unable to provide disaster loans to agricultural producers, farmers or ranchers, except for aquaculture enterprises.
EIDLs are for working capital needs caused by the disaster and are available even if the business or private nonprofit did not suffer any physical damage. They may be used to pay fixed debts, payroll, accounts payable, and other bills that could not be paid due to the disaster.
Interest rates are as low as 4% for businesses, 3.625% for PNPs, and 2.875% for homeowners and renters, with terms up to 30 years. Interest does not begin to accrue, and payments are not due, until 12 months from the date of the first loan disbursement. The SBA sets loan amounts and terms based on each applicant’s financial condition.
“SBA’s Business Recovery Centers have consistently proven their value to business owners following a disaster,” Associate Administrator of the Office of Disaster Recovery and Resilience at SBA Chris Stallings said. “Business owners can visit these centers to meet face-to-face with specialists who will guide them through the disaster loan application process and connect them with resources to support their recovery.”
Since Monday, July 13, SBA customer service representatives are available at the Business Recovery Centers in Cheboygan and Wexford counties to answer questions about SBA’s disaster loan program, explain the application process, and help individuals complete their application. Walk-ins are welcome, and one can schedule an in-person appointment in advance at appointment.sba.gov.
To apply online, visit sba.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.
The deadline to return applications for physical property damage is Aug. 31. The deadline to return economic injury applications is March 30, 2027.
