Tennessee Winter Storm Gets Major Disaster Loan Assistance
Published Date: 4/16/2026
Notice
Summary
A major disaster was declared for Tennessee after a severe winter storm hit from January 22-27, 2026. People and businesses in many counties can now apply for low-interest disaster loans to help fix damage or recover lost income. Physical damage loan applications are due by June 10, 2026, and economic injury loan applications by January 11, 2027.
Analyzed Economic Effects
6 provisions identified: 6 benefits, 0 costs, 0 mixed.
Physical Disaster Loans for Damaged Property
If your home or business in the listed Tennessee primary counties was damaged by the severe winter storm from January 22–27, 2026, you may apply for SBA physical damage disaster loans. Physical damage loan applications must be submitted by June 10, 2026.
Economic Injury Loans for Affected Businesses
Businesses in the listed Tennessee primary counties and listed contiguous counties (including counties in AL, AR, KY, MO, and MS) may apply for SBA Economic Injury Disaster Loans (EIDL) to cover lost working capital. EIDL applications must be submitted by January 11, 2027.
Homeowner Physical Loan Interest Rates
For SBA physical damage loans: homeowners with credit available elsewhere are offered an interest rate of 5.750%, and homeowners without credit available elsewhere are offered 2.875%.
Business Physical Loan Interest Rates
For SBA physical damage loans to businesses: businesses with credit available elsewhere have an interest rate of 8.000%, and businesses without credit available elsewhere have an interest rate of 4.000%.
Economic Injury Loan Interest Rates for Businesses
For Economic Injury Disaster Loans (EIDL): businesses and small agricultural cooperatives without credit available elsewhere have an interest rate of 4.000%; private non-profit organizations without credit available elsewhere have a rate of 3.625%.
How to Apply for SBA Disaster Loans
You can apply for SBA disaster assistance online at the MySBA Loan Portal (https://lending.sba.gov) or at locally announced locations; SBA phone help is 1-800-659-2955 and email is [email protected].
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