The U.S. Small Business Administration is urging Typhoon Sinlaku survivors to submit disaster loan applications before the Aug. 21 cutoff for physical damage assistance. The deadline applies to renters, homeowners, businesses, and private nonprofits, while Economic Injury Disaster Loans remain available through January 2027.
SBA Public Affairs Specialist Raenada Mason said the agency has approved nearly $67 million in disaster loans for Sinlaku, with $18 million disbursed. “Over $900,000 has gone to Rota, about $6.2 million has gone to Tinian, and the remaining of that, close to $58 million, has gone to Saipan,” she said.
For Typhoon Bavi, federal assistance is now split between two declarations. Rota is covered under a presidential declaration, allowing higher unsecured loan limits—up to $50,000 for homeowners and businesses and $100,000 for renters. Saipan and Tinian fall under an SBA rural administrative declaration, which caps unsecured loans at $14,000 but still allows up to $500,000 for real estate repairs and $100,000 for personal property.
Interest rates for all SBA disaster loans remain 2.875%, with no payments and no interest accrual for one year and terms up to 30 years.
SBA officials emphasized that businesses should also consider applying for economic injury loans, which cover lost revenue and operating disruptions. “You can see physical loss all day, but you can’t see that economic injury,” SBA specialist Corey Williams said. “That’s sometimes the silent killer for our businesses and nonprofits.”
