Oklahoma Tornado Victims Eligible for SBA Disaster Loans
Published Date: 5/7/2026
Notice
Summary
Oklahoma got hit hard by tornadoes and strong winds on April 23, 2026, and now the government is stepping in with disaster loans to help folks bounce back. If you live in Garfield or nearby counties, you can apply for physical damage loans by June 30, 2026, or economic injury loans by February 1, 2027. These loans come with low-interest rates to make recovery easier and faster!
Analyzed Economic Effects
5 provisions identified: 5 benefits, 0 costs, 0 mixed.
Physical Disaster Loans Available for Affected Counties
If you live in Garfield County or the listed contiguous Oklahoma counties, you can apply for SBA physical disaster loans for damage from the April 23, 2026 tornadoes. The deadline to apply for physical damage loans is June 30, 2026, and you may apply online at https://lending.sba.gov or at locally announced locations.
Economic Injury (EIDL) Loans for Small Businesses
Businesses, small agricultural cooperatives, and eligible private non-profits in the designated Oklahoma areas can apply for Economic Injury Disaster Loans (EIDL). The deadline to apply for EIDL is February 1, 2027, and applications are available at https://lending.sba.gov.
Homeowner Physical Loan Interest Rates
Homeowners in the declared area have SBA physical damage loan interest rates of 5.750% if they have credit available elsewhere and 2.875% if they do not have credit available elsewhere. These rates apply to physical damage loans related to the April 23, 2026 incident.
Business and Non-Profit Loan Interest Rates
SBA physical damage loans for businesses have interest rates of 8.000% if credit is available elsewhere and 4.000% if credit is not available elsewhere. Private non-profit organizations have rates of 3.625% for physical damage loans and 3.625% for economic injury loans when credit is not available elsewhere.
How to Apply and Get Assistance
You can apply for disaster loans through the MySBA Loan Portal at https://lending.sba.gov or in person at locally announced locations. For help, contact the SBA disaster assistance customer service center by phone at 1-800-659-2955, by email at [email protected], or use 7-1-1 for telecommunications relay services.
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