On Saturday, December 21, President Joe Biden signed the American Relief Act, 2025 into law, providing funding for the US Small Business Administration to resume processing urgently needed financial relief for those impacted by Hurricanes Milton, Helene and other natural disasters across the nation through its Disaster Loan Program.

“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,” says SBA administrator Isabel Casillas Guzman. “Thanks to the American Relief Act signed into law by President Biden, the SBA is ready to provide critical support to the thousands of families and businesses that have been waiting for relief to rebuild, reopen, and move forward.”

SBA’s Disaster Loan Program offers direct, low-interest, long-term loans to help those affected by federally declared disasters with the recovery and rebuild process. In the 48 hours following the bill’s signing, over 21,000 individuals and businesses affected by Hurricanes Milton, Helene and other natural disasters were expected to receive the details of their loan offer. The SBA will continue to process disaster loan applications and send out additional offers in the coming days.

Individuals and businesses affected by more than 200 declared disasters had been waiting in a backlog caused by the lack of funding, which had been exhausted as of October 15, 2024. This prevented the SBA from issuing new loan offers. It continued to accept and process disaster loan applications, queuing approved applications for funding once additional resources became available.

Applications remain open for recently declared disasters and the SBA encourages those impacted to learn more about what is available in their community and apply today for disaster loans.