Two to three weeks
People also ask
How long does the SBA take to approve a disaster loan?
In general, the SBA attempts to process disaster loan applications within two to three weeks and disburse payment within five days after that. If you submit online, you can use your profile on the Disaster Loan Assistance homepage to check the status of your application.
How do I apply for a disaster loan?
The fastest and easiest way to apply for a disaster loan is online, although you can also apply via mail. To begin the process, the first step is to register with the SBA Disaster Loan Assistance portal, which will allow you to save and come back to an application in process. Next, gather the documents necessary to complete the application.
How much can you get in disaster assistance loans?
If you have a business, you can apply for up to $2 million total in disaster assistance loans. This $2 million limit can include physical damages and documented losses from economic injury combined. If you own a home and your property was damaged by the disaster, you鈥檙e eligible for up to $200,000 to repair or replace real estate.
How long will it take to receive my loan disbursement?
SBA will prepare and send your Loan Closing Documents to you for your signature. Once we receive your signed Loan Closing Documents, an initial disbursement will be made to you within 5 days: