Low-interest federal disaster loans are currently available to Oklahoma businesses and residents. Deadline July 1, 2024 as a result of the severe storms, straight-line winds, tornadoes and flooding that occurred April 25 through May 9, 2024.
The declaration OK 20303 covers the Oklahoma counties of: Carter, Craig, Hughes, Johnston, Kay, Lincoln, Love, McClain, Murray, Nowata, Okfuskee, Okmulgee, Osage, Ottawa, Pontotoc, Pottawatomie, Washington & Washita.
This is for homeowners and renters, not just businesses.
Deadline to apply for physical damage is July 1, 2024 Deadline to apply for Economic Injury is January 30, 2025 *No requirement to accept an approved loan. An approval would be an option for rebuilding and recovery.
There is another declaration OK 20364 that covers the counties of Blaine, Caddo, Custer, Delaware, Jackson, Mayes, Muskogee & Rogers; as a result of the severe storms, straight-line winds, tornadoes and flooding that occurred May 19 through May 28, 2024.
Deadline to apply for physical damage: August 13, 2024 Deadline to apply for economic injury: March 14, 2025
KEY INFORMATION:
Loan Amounts: Businesses can borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery, equipment, inventory, supplies, machinery and equipment. Businesses of any size are eligible. Private, non-profit organizations such as charities, churches, private universities, etc., are also eligible.
Homeowners can access up to $500,000 to repair or replace damaged real estate and homeowners and renters can access up to $100,000 for damaged personal property, including vehicles.
Economic Injury Assistance: SBA offers Economic Injury Disaster Loans to help meet working capital needs caused by the disaster, regardless of whether there was property damage. Economic injury extends to all contiguous counties.
•economic injury only in the contiguous Oklahoma counties of: Atoka, Beckham, Bryan, Caddo, Canadian, Cleveland, Coal, Creek, Custer, Delaware, Garfield, Garvin, Grady, Grant, Jefferson, Kiowa, Logan, Marshall, Mayes, McIntosh, Muskogee, Noble, Oklahoma, Pawnee, Payne, Pittsburg, Rogers, Seminole, Stephens, Tulsa & Wagoner;
•economic injury only in the contiguous Kansas counties of: Chautauqua, Cherokee, Cowley, Labette, Montgomery & Sumner;
•economic injury only in the contiguous Missouri counties of: McDonald & Newton; •economic injury only in the contiguous Texas counties of: Cooke, Grayson & Montague
•economic injury only in the contiguous Oklahoma counties of: Adair, Beckham, Canadian, Cherokee, Comanche,Craig, Dewey, Grady, Greer, Harmon, Haskell, Kingfisher, Kiowa, Major, Mcintosh, Nowata, Okmulgee, Ottawa, Roger Mills, Sequoyah, Tillman, Tulsa, Wagoner, Washington & Washita;
•economic injury only in the contiguous Arkansas county of: Benton;
•economic injury only in the contiguous Missouri county of: McDonald;
•economic injury only in the contiguous Texas counties of: Hardeman & Wilbarger LOAN TERMS: Interest Rates: Interest rates are as low as 4 percent for businesses, 3.250 percent for private nonprofit organizations, and 2.688 percent for homeowners and renters. Loan terms can extend up to 30 years.
Grace Period: Interest does not begin to accrue until 12 months from the date of the first loan disbursement, with loan repayment commencing 12 months after the first disbursement.
Loan amounts and terms are set by SBA and are based on each applicant’s financial condition.
Survivors may apply online and receive additional disaster assistance information at MySBA Loan Portal. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@ sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.
In addition, SBA customer service representatives are available to meet with applicants at the following locations. No appointment is necessary. All services are provided free of charge.
MURRAY COUNTY Mary Parker Memorial Library 500 W Broadway Avenue Sulphur, OK 73086 Mondays – Fridays 9:00 am – 5:30 pm CT Saturdays 10:00 am – 1:00 pm CT Murray County Extension Office 3490 State Hwy 7 West Sulphur, OK 73086 Mondays – Fridays 8:00 am – 6:00 pm CT Saturdays 9:00 am – 5:00 pm CT OSAGE COUNTY Barnsdall Elementary School 401 N Tenth Street Barnsdall, OK 74002 Mondays - Fridays 8:00 am – 6:00 pm CT Saturdays 9:00 am – 5:00 pm CT POTTAWATOMIE COUNTY Shawnee Community Center 804 South Park Avenue Shawnee, OK 74804 Mondays – Saturdays 9:00 am – 5:00 pm