Residents in six Florida counties have five days remaining to apply for low-interest disaster loans following recent severe storms and flooding. These loans are designed to cover losses not fully met by insurance, including damage to homes, personal property, and businesses.

The U.S. Small Business Administration (SBA) set a Jan. 7 deadline for physical damage loan applications in Brevard, Orange, Osceola, Seminole, Volusia, and Indian River counties.

How to Apply Before Jan. 7
With the deadline approaching this Wednesday, officials urge survivors to submit applications even if they are still waiting for insurance settlements.

• Online: Applicants can visit sba.gov/disaster or use the direct link at lending.sba.gov.
• Phone: Those needing assistance with the application process can call the SBA at 800-659-2955.

Mitigation Funds Still Available
While the primary deadline is Jan. 7, individuals in Florida with existing physical disaster loans for Hurricane Milton have a longer window to seek additional support. Borrowers can apply for supplemental funding to cover mitigation projects during the first two years of their loan.

These funds allow residents to install protective measures such as impact-resistant windows, high-wind-resistant garage doors, and other upgrades to prevent future storm damage.

Loan Details for Residents and Businesses
Homeowners may qualify for up to $500,000 for real estate repairs, while both homeowners and renters can apply for up to $100,000 to replace personal property. Business owners and private nonprofits are eligible for up to $2 million to repair or replace disaster-damaged assets.

Interest rates for these loans are as low as 3% for homeowners and 4% for businesses, with repayment terms available for up to 30 years.