SBA Offers Disaster Relief to Tennessee Businesses, Nonprofits, and Residents Affected by the Severe Winter Storm

WASHINGTON - In response to an Presidential disaster declaration issued April 10, the U.S. Small Business Administration (SBA) announced the availability of low interest disaster loans for Tennessee businesses, nonprofits, and residents affected by severe winter storms occurring Jan. 22 - 27.

The declaration covers Tennessee primary counties of Benton, Carroll, Cheatham, Chester, Clay, Davidson, Decatur, Dickson, Dyer, Fayette, Hardeman, Hardin, Henderson, Hickman, Lewis, Macon, Madison, Maury, McNairy, Montgomery, Perry, Robertson, Rutherford, Shelby, Sumner, Trousdale, Wayne, Williamson, and Wilson, 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: Tennessee counties of Bedford, Cannon, Coffee, Crockett, DeKalb, Gibson, Giles, Haywood, Henry, Houston, Humphreys, Jackson, Lake, Lauderdale, Lawrence, Marshall, Obion, Overton, Pickett, Smith, Stewart, Tipton, and Weakley, and the Alabama county of Lauderdale, and the Arkansas counties of Crittenden and Mississippi, and the Kentucky counties of Allen, Christian, Clinton, Cumberland, Logan, Monroe, Simpson, and Todd, and the Missouri county of Pemiscot, as well as the Mississippi counties of Alcorn, Benton, DeSoto, Marshall, Tippah, and Tishomingo.

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 businesses, 3.625% for PNPs, and 2.875% 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."

As of Tuesday, April 14, SBA customer service representatives are available at the Business Recovery Center (BRC) in Hardin 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:

HARDIN COUNTY

Business Recovery Center (BRC)  

Hardin County Emergency Management

400 Armory Lane

Savannah, TN 38372

Opening: Tuesday, April 14, at 8:00 a.m. - 5:00 p.m.

Hours:    Monday - Friday, 8:00 a.m. - 5:00 p.m.  

Saturday - 10:00 a.m. to 2:00 p.m. 

Permanently Closing: TBD

CHESTER COUNTY

Mobile Recovery Vehicle (MRV)

Lot behind Henderson City Hall

132 N Washington Ave

Henderson, TN 38340  

Opening: Tuesday, April 14, at 9:00 a.m. - 6:00 p.m.

Hours: Wednesday April 15, 9:00 a.m. - 6:00 p.m.   

Thursday, April 16, 9:00 a.m. - 6:00 p.m.

DECATUR COUNTY

Mobile Recovery Vehicle (MRV)

Lot near Decatur County Veterans Service

427 W Highland Dr

Decaturville, TN 38329

Opening: Friday, April 17, 9:00 am - 6:00 p.m.

Hours:    Saturday, April 18, 10:00 am - 2:00 p.m.

HENDERSON COUNTY

Mobile Recovery Vehicle (MRV)

Lot near Watson Emergency Services Center -

Henderson County EMA

50 Natchez Trace Dr

Lexington, TN 38351

Opening: Monday, April 20, 9:00 am - 6:00 p.m.

Hours:    Tuesday, April 21, 9:00 a.m. - 6:00 p.m.

Wednesday, April 22, 9:00 a.m. - 6:00 p.m.

MCNAIRY COUNTY

Mobile Recovery Vehicle (MRV)

Lot near McNairy County Courthouse

170 W Court Ave

Selmer, TN 38375

Opening: Thursday, April 23, 9:00 a.m. - 6:00 p.m.

Hours:    Friday, April 24, 9:00 a.m.- 6:00 p.m.

    Saturday, April 25, 10:00 a.m. - 2:00 p.m.

With the changes to FEMA's Sequence of Delivery, survivors are now encouraged to simultaneously apply for FEMA grants and the SBA low-interest disaster loan assistance to fully recover.  FEMA grants are intended to cover necessary expenses and serious needs not paid by insurance or other sources. The SBA disaster loan program is designed for your long-term recovery, to make you whole and get you back to your pre-disaster condition.

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 more 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.

The filing deadline to return applications for physical property damage is June 10. The deadline to return economic injury applications is Jan. 11, 2027.

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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 https://www.sba.gov.

Related programs: Disaster

Email [email protected]