Typhoon Ravages Northern Marianas: Loans Flow to Rebuild Fast
Published Date: 4/29/2026
Notice
Summary
The President declared a major disaster for the Northern Mariana Islands after Super Typhoon Sinlaku hit from April 11-18, 2026. Residents and businesses can now apply for low-interest disaster loans to help rebuild, with physical damage loan applications due by June 22, 2026, and economic injury loans available until January 25, 2027. This means faster financial help is on the way to get the islands back on their feet!
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Analyzed Economic Effects
4 provisions identified: 4 benefits, 0 costs, 0 mixed.
Low‑Interest Physical Damage Loans
Homeowners, businesses, and private non‑profits in the Commonwealth of the Northern Mariana Islands can apply for SBA physical damage disaster loans to repair or replace property. Physical loan applications are due by June 22, 2026, and the notice lists interest rates (homeowners with credit available elsewhere 5.750%, homeowners without credit 2.875%, businesses with credit 8.000%, businesses without credit 4.000%, private non‑profits 3.625%).
Economic Injury (EIDL) Loans Available
Businesses and small agricultural cooperatives in the Northern Mariana Islands may apply for Economic Injury Disaster Loans (EIDL). EIDL applications are available through January 25, 2027, with interest rates for businesses and cooperatives without credit available elsewhere at 4.000% and private non‑profits at 3.625%.
How and Where To Apply
You can apply for disaster assistance online at the MySBA Loan Portal (https://lending.sba.gov) or at locally announced locations; SBA customer service is available at 1-800-659-2955 and by email at disastercustomerservice@sba.gov. If you are deaf, hard of hearing, or have a speech disability, dial 7-1-1 to access telecommunications relay services.
Who Is Eligible in the Disaster Area
The entire Commonwealth of the Northern Mariana Islands is designated as adversely affected, including Saipan, Tinian, Rota, and the Northern Islands, making residents, businesses, and nonprofits in those areas eligible to apply for the declared disaster loans (FEMA-4910-DR).
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