SBA Offers Disaster Loans to Alaska Businesses Nonprofits and Residents After Severe Storms

Disaster news release
AK-20018-01

SBA Offers Relief to Alaska Businesses, Nonprofits, and Residents Affected by Severe Storms, Flooding, and Remnants of Typhoon Halong

Low interest disaster loans now available Published on

April 16, 2026

by Office of Disaster Recovery & Resilience WASHINGTON — The U.S. Small Business Administration (SBA) announced the availability of low‑interest federal disaster loans to Alaska businesses, nonprofits, and residents affected by severe storms, flooding, and remnants of Typhoon Halong occurring Oct. 8 – 13, 2025. The SBA issued a disaster declaration in response to a request received from Gov. Mike Dunleavy on April 14.

The disaster declaration covers the Bering Strait Regional Educational Attendance Area (REAA).

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 be eligible for a loan increase of up to 20% of their verified physical damage, for mitigation purposes. 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.

“Through a rural declaration, SBA provides financial assistance to help rural communities recover,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “We offer disaster loans to homeowners, renters, businesses, and private nonprofits affected by the disaster.”

SBA’s Economic Injury Disaster Loan (EIDL) program is available to eligible small businesses, small agricultural cooperatives, nurseries and PNPs – 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 available for working capital needs caused by the disaster and are available even if the small business or PNP did not suffer any physical damage. The loans may be used to pay fixed debts, payroll, accounts payable, and other bills which could not be paid due to the disaster.

The loan amount can be up to $2 million with interest rates as low as 4% for businesses, 3.625% for nonprofits and 3% for homeowners and renters with terms of 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.

The SBA encourages applicants to submit their loan applications promptly. Applications will be prioritized in the order they are received, and the SBA remains committed to processing them as efficiently as possible.

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 physical damage applications is June 15. The deadline to return economic injury applications is Jan. 15, 2027.

About the U.S. Small Business Administration

The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow, expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.

Related programs: Disaster

Media contacts

Corey Williams Email corey.williams@sba.gov Phone 916-735-1500