ATLANTA – Tennessee residents and businesses approved for a disaster loan from the U.S. Small Business Administration (SBA) as a result of Tropical Storm Helene that occurred Sept. 26-30, have two years from the date of their loan approval to request an increase to pay for mitigation measures to prevent or minimize damages from future disasters. Mitigation funds from the SBA are an affordable way for survivors to rebuild smarter, stronger, and pay for improvements that protect life and property.
Businesses and homeowners may be eligible for a loan increase up to 20% of their physical damages, as verified by the SBA, to cover the cost of improvements. Examples of mitigation improvement may include regrading landscaping to improve drainage, installing a French drain, installing a sump pump,
insulating pipes, walls and attics, weather stripping doors and windows and more.
To learn more about mitigation options visit sba.gov/mitigation.
On Oct. 15, 2024, it was announced that funds for the Disaster Loan Program have been fully expended. While no new loans can be issued until Congress appropriates additional funding, we remain committed to supporting disaster survivors. Applications will continue to be accepted and
processed to ensure individuals and businesses are prepared to receive assistance once funding becomes available.
Applicants are encouraged to submit their loan applications promptly for review in anticipation of
future funding.
For more information and to apply online visit SBA.gov/disaster. Applicants may also call SBA’s
Customer Service Center at (800) 659-2955 or email [email protected] for 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.
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About the U.S. Small Business Administration
The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to
resource and voice for small businesses backed by the strength of the federal government, the SBA empowers
entrepreneurs and small business owners with the resources and support they need to start, grow or expand
their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA
field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.
