Small Missouri Businesses, Get Help From SBA

Great news if you are a small business owner and were impacted by the severe weather on April 29, 2025.

The U.S. Small Business Administration (SBA) announced the availability of low-interest federal disaster loans to assist those small businesses, private nonprofit organizations, and residents who were affected by the severe weather.

This federal declaration follows a request from Governor Mike Kehoe, which covers the Missouri counties of Barry, Christian, Dade, Dallas, Greene, Jasper, Lawrence, McDonald, Newton, Polk, Stone, and Webster.

Starting today, at 1pm, a Disaster Loan Outreach Center will open in Springfield at the Public Safety Center located at 330 W. Scott Street. Currently the hours for assistance will be Monday through Friday from 9 a.m. to 6 p.m. for the next two weeks, with possibly more hours being added, if needed

The assistance and low-interest loans are for the following:

Available to businesses and private nonprofits to repair or replace damaged real estate, equipment, inventory, and other business assets.
Loan amounts up to $2 million. Home Disaster Loans
Available to homeowners and renters for repairing or replacing personal property or their primary residence
Homeowners: Up to $500,000 for primary residence repairs
Homeowners and renters: Up to $100,000 for personal property Economic Injury Disaster Loans (EIDLs)
Available to small businesses, agricultural cooperatives, nurseries, and eligible private nonprofits that have suffered financial losses due to the disaster, even if no physical damage occurred
May be used for working capital needs, such as payroll, fixed expenses, and other recurring costs

Mitigation Loan Increases:

Applicants may qualify for a loan increase of up to 20% of verified physical damage to fund mitigation improvements such as: