Tennessee Storm Victims Eligible for Federal Disaster Relief Loans Now
Published Date: 4/13/2026
Notice
Summary
A big winter storm hit Tennessee and nearby counties in January 2026, causing damage and economic trouble. The government declared it a disaster, so affected homeowners, businesses, and nonprofits can now apply for low-interest disaster loans to help fix things. You’ve got until June 8, 2026, to apply for physical damage loans and until January 7, 2027, for economic injury loans—so don’t wait!
Analyzed Economic Effects
5 provisions identified: 5 benefits, 0 costs, 0 mixed.
Homeowner Disaster Repair Loans
If you are a homeowner in the declared areas of Tennessee, Alabama, or Mississippi, you can apply for SBA physical disaster loans to repair storm damage. The deadline to apply for physical damage loans is June 8, 2026, and interest rates listed are 5.750% for homeowners with credit available elsewhere and 2.875% for homeowners without credit available elsewhere.
Physical Damage Loans for Businesses
Businesses in the declared areas can apply for SBA physical damage loans to repair storm-related property loss. The physical loan application deadline is June 8, 2026; interest rates are 8.000% for businesses with credit available elsewhere and 4.000% for businesses without credit available elsewhere.
Economic Injury (EIDL) Loans for Businesses & Co-ops
Businesses and small agricultural cooperatives in the declared areas can apply for Economic Injury Disaster Loans (EIDL); the EIDL application deadline is January 7, 2027. The interest rate for businesses and small agricultural cooperatives without credit available elsewhere is 4.000%.
Low-Interest Loans for Private Nonprofits
Private nonprofit organizations in the declared areas may apply for SBA disaster loans for both physical damage and economic injury. The interest rate shown for private non-profit organizations (with or without credit available elsewhere) for physical damage is 3.625%, and the economic injury rate without credit available elsewhere is 3.625%; physical loan applications are due June 8, 2026 and EIDL applications are due January 7, 2027.
How to Apply and Areas Covered
You can apply online at the MySBA Loan Portal (https://lending.sba.gov) or in person at locally announced locations; contact SBA at 1-800-659-2955 or [email protected] for help. The areas determined to be adversely affected include Primary County: Hardin (TN) and contiguous counties in Tennessee (Chester, Decatur, Henderson, McNairy, Wayne), Alabama (Lauderdale), and Mississippi (Alcorn, Tishomingo); the SBA also lists Tennessee, Alabama, and Mississippi as the states receiving an administrative declaration.
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