SBA Declares Rural Alaska Disaster Area After October Storm and Flooding
Published Date: 4/20/2026
Notice
Summary
A big storm and flooding hit a rural part of Alaska last October, causing damage and economic trouble. The government declared it a disaster area, so affected homeowners, businesses, and nonprofits can now apply for low-interest loans to help fix things or recover lost income. You’ve got until mid-June 2026 for physical damage loans and January 2027 for economic injury loans—so don’t wait!
Analyzed Economic Effects
2 provisions identified: 2 benefits, 0 costs, 0 mixed.
Low-Interest Physical Damage Loans
If you live or operate in the declared area (Bering Strait Regional Educational Attendance Area, Alaska) and suffered physical damage from the October 8–13, 2025 storms, you can apply for SBA physical disaster loans through the MySBA Loan Portal. Physical loan application deadline is June 15, 2026; interest rates listed include 6.000% (homeowners with credit available elsewhere), 3.000% (homeowners without credit), 8.000% (businesses with credit), 4.000% (businesses without credit), and 3.625% (private non-profits).
Economic Injury (EIDL) Loans Available
If your business or small agricultural cooperative in the affected Alaska area lost income because of the October 8–13, 2025 storm and flooding, you can apply for SBA Economic Injury Disaster Loans (EIDL) through the MySBA Loan Portal. EIDL application deadline is January 15, 2027; interest rates shown include 4.000% for businesses and small agricultural cooperatives without credit available elsewhere and 3.625% for private non-profits without credit available elsewhere.
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