Congress Allocates $2 Billion for SBA Disaster Loans: Recovery Funds Now Available for Ruidoso Residents and Businesses
Congress has approved and President Joe Biden has signed legislation providing $2 billion in funding for the U.S. Small Business Administration (SBA) Disaster Loan Program. This crucial funding will enable the SBA to resume issuing low-interest loans to individuals and businesses impacted by recent disasters, including the South Fork and Salt Fires.
SBA Administrator Isabel Casillas Guzman emphasized the importance of this program, stating, “The SBA’s disaster loan program plays a vital role in helping communities recover by filling market gaps and providing the resources survivors need to rebuild stronger.” With this renewed funding, over 21,000 applicants nationwide, previously awaiting financial assistance, can now move forward with recovery efforts.
Who Qualifies for Assistance?
The SBA Disaster Loan Program is available to:
Homeowners and Renters: For repairing or replacing disaster-damaged property.
Businesses and Nonprofits: To rebuild, repair, and replace damaged property, equipment, and inventory.
Applicants affected by recent disasters are encouraged to apply for assistance online at sba.gov/disaster or in person at a Disaster or Business Recovery Center.
Next Steps
SBA appreciates the patience of those whose disaster loan applications were on hold during the funding lapse. We will quickly update applicants regarding their loan status and next steps to take.
SBA offers low-interest disaster loans to homeowners, renters, businesses, and nonprofit organizations to rebuild, repair, and replace disaster-damaged property. Those affected by recent disasters are encouraged to apply for a disaster loan online at sba.gov/disaster or in person at a Disaster or Business Recovery Center.
To find a Disaster Recovery Center near you or for application assistance, call the SBA Customer Service Center at (800) 659-2955.
The SBA is committed to providing swift support to families and businesses in Ruidoso and across the nation, helping communities rebuild stronger and recover from the challenges of natural disasters.
Documents: 25-19 SBA Disaster Funding Restored
