SBA disaster loan extended for Washington residents, businesses affected by winter storms

LEAVENWORTH —  In response to a Presidential disaster declaration issued April 7, the U.S. Small Business Administration (SBA) has extended the application window for low interest federal disaster loans to Washington businesses, private nonprofit (PNP) organizations and residents affected by severe storms, straight-line winds, flooding, landslides, and mudslides occurring Dec. 5 – 19, 2025.

“Usually FEMA declares a disaster, and then SBA comes in afterwards…It puts, I think, Leavenworth and Chelan County and a little bit more of an advantageous position in terms of financing,” SBA Public Affairs Specialist Todd Broadman told Leavenworth City Council on April 14.

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, according to SBA’s fact sheet.

Economic Injury Disaster Loans (EIDL) are also available to help small businesses, small agricultural cooperatives, and most private, non-profit organizations of all sizes meet their ordinary and necessary financial obligations that cannot be met as a direct result of the disaster. EIDLS are available for working capital needs caused by the disaster, and may be used to pay fixed debts, payroll, accounts payable, and other bills.

Homeowners and renters are also eligible to apply for home and personal property loans. They 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 be eligible for a loan increase of up to 20 percent of their verified physical damage for mitigation purposes, according to SBA. Eligible mitigation improvements may include insulating pipes, walls and attics, weather stripping doors and windows, and installing storm windows to help protect property and occupants from future disasters.

“One distinct advantage of SBA’s disaster loan program is the opportunity to fund upgrades reducing the risk of future storm damage,” said Chris Stallings, associate administrator of SBA’s Office of Disaster Recovery and Resilience, in an announcement.

“I encourage businesses and homeowners to work with contractors and mitigation professionals to improve their storm readiness while taking advantage of SBA’s mitigation loans,” added Stallings.

Interest rates can be as low as 4 percent for businesses, 3.625 percent for private nonprofit organizations and 2.875 percent 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, according to the SBA. The SBA determines eligibility and sets loan amounts and terms based on each applicant’s financial condition.

Following a four-week presence in Leavenworth, Broadman said there was a clear financial impact on residents and businesses owners, but some reticence toward seeking assistance.

“Here in Leavenworth, we know just by the surveys…that most of the businesses did see a dip in revenue over a two to four month period during the busiest season of the year, some of them citing maybe 40 to 50 percent revenue dips,” said Broadman, encouraging those affected to utilize the deadline extension.

The physical damage filing deadline is now June 10, 2026. Filing for economic injury is available until Jan. 7, 2027.

Applicants may apply online at sba.gov/disaster. Information about recovery center locations is available by calling the SBA Customer Service Center at 800-659-2955, or emailing isastercustomerservice@sba.gov.

Taylor Caldwell: 509-433-7276 or taylor@ward.media