ATLANTA – In response to an Presidential disaster declaration issued May 21, 2025, the U.S. Small Business Administration (SBA) announced the availability of low interest disaster loans for Mississippi businesses and residents affected by severe storms, straight-line winds, tornadoes and flooding occurring on March 14-15.
The declaration covers Covington, Grenada, Issaquena, Itawamba, Jefferson Davis, Leflore, Marion, Montgomery, Pike, Smith and Walthall counties which are eligible for both Physical damage loans and Economic Injury Disaster Loans (EIDLs) from the SBA.
Small businesses and most private nonprofit (PNP) organizations in the following adjacent counties are eligible to apply only for SBA EIDLs: Amite, Attala, Calhoun, Carroll, Choctaw, Forrest, Holmes, Humphreys, Jasper, Jones, Lamar, Lawrence, Lee, Lincoln, Monroe, Newton, Pearl River, Prentiss, Rankin, Scott, Sharkey, Simpson, Sunflower, Tallahatchie, Tishomingo, Warren, Washington, Webster, Yalobusha and Yazoo in Mississippi, Franklin and Marion in Alabama, Chicot in Arkansas, as well as East Carroll, Tangipahoa and Washington in Louisiana.
Businesses and nonprofits are eligible to apply for business physical disaster loans and may borrow up to $2 million to repair or replace disaster-damaged or destroyed real estate, machinery and equipment, inventory, and other business assets.
Homeowners and renters are eligible to apply for home and personal property loans and may borrow up to $100,000 to replace or repair personal property, such as clothing, furniture, cars, and appliances. Homeowners may apply for up to $500,000 to replace or repair their primary residence.
Applicants may also be eligible for a loan increase of up to 20% of their physical damages, as verified by the SBA, for mitigation purposes. Eligible mitigation improvements include strengthening structures to protect against high wind damage, upgrading to wind rated garage doors, and installing a safe room or storm shelter to help protect property and occupants from future damage.
Interest rates are as low as 4% for small businesses, 3.625% for PNPs, and 2.75% for homeowners and renters, with terms up to 30 years. Interest does not begin to accrue, and payments are not due, until 12 months from the date of the first loan disbursement. The SBA sets loan amounts and terms, based on each applicant’s financial condition.
“SBA’s Business Recovery Centers have consistently proven their value to business owners following a disaster,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “Business owners can visit these centers to meet face-to-face with specialists who will guide them through the disaster loan application process and connect them with resources to support their recovery.”
Beginning Wednesday, May 28, SBA customer service representatives will be on hand at the Business Recovery Center (BRC) in Walthall County to answer questions about SBA’s disaster loan program, explain the application process and help individuals complete their application. Walk-ins are accepted, but you can schedule an in-person appointment in advance at appointment.sba.gov.
The BRC hours of operation are listed below:
Business Recovery Center (BRC)
Walthall County Armory Conference Room, 908 Armory Rd,, Tylertown, Mississippi 39667
Hours: Monday-Friday: 9 a.m. to 6 p.m., Saturday: 10 a.m. to 2 p.m.
Permanently Closing: July 21, at 4 p.m.
