Missouri Disaster Declaration Opens Door to Federal Recovery Loans
Published Date: 6/17/2025
Notice
Summary
Big storms hit Missouri on May 16, 2025, causing serious damage in Scott, St. Louis, and nearby areas. The President declared a major disaster on June 9, opening the door for disaster loans to help homeowners, businesses, and nonprofits recover. You’ve got until August 11, 2025, to apply for physical damage loans and until March 9, 2026, for economic injury loans—so don’t wait!
Analyzed Economic Effects
3 provisions identified: 2 benefits, 0 costs, 1 mixed.
Physical disaster loans for local residents
If you live in Scott County, St. Louis County, or St. Louis City and suffered physical damage from the May 16, 2025 storm, you can apply for SBA physical disaster loans. Apply online at the MySBA Loan Portal (https://lending.sba.gov). The deadline to apply for physical damage loans is August 11, 2025.
Economic Injury (EIDL) loans for businesses and co-ops
Businesses, small agricultural cooperatives, and non-profit organizations in Scott, St. Louis, and St. Louis City may apply for Economic Injury Disaster Loans (EIDL). Contiguous counties eligible for EIDL only are Missouri: Cape Girardeau, Franklin, Jefferson, Mississippi, New Madrid, St. Charles, Stoddard; and Illinois: Alexander, Madison, Monroe, St. Clair. The deadline to apply for EIDL is March 9, 2026.
Specified interest rates for disaster loans
The notice lists the interest rates for SBA disaster loans: Physical damage — Homeowners with credit available elsewhere: 5.625%; Homeowners without credit available elsewhere: 2.813%; Businesses with credit available elsewhere: 8.000%; Businesses without credit available elsewhere: 4.000%; Non-profit organizations (with and without credit available elsewhere): 3.625%. For Economic Injury loans — Businesses and small agricultural cooperatives without credit available elsewhere: 4.000%; Non-profit organizations without credit available elsewhere: 3.625%.
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