Amanda Fisher, State Director, NFIB Michigan Small business lobbyist | National Federation of Independent Business - Michigan
Amanda Fisher, State Director, NFIB Michigan Small business lobbyist | National Federation of Independent Business - Michigan
The Small Business Administration (SBA) has announced the availability of disaster relief loans for businesses in Northern Michigan affected by the ice storms from March 28 to March 30, 2025. The counties eligible for this assistance include Cheboygan, Charlevoix, Emmet, Mackinac, Montmorency, Otsego, and Presque Isle.
The SBA is offering two types of loans. Business Physical Disaster Loans are available to businesses of any size to repair or replace disaster-damaged property such as real estate, inventories, supplies, machinery, and equipment. Private non-profit organizations like charities and private universities are also eligible for these loans.
Economic Injury Disaster Loans (EIDL) provide working capital to help small businesses and small agricultural cooperatives meet their financial obligations that cannot be fulfilled due to the disaster. These loans aim to assist through the recovery period.
Applications for physical damage must be submitted by August 8, 2025. For Economic Injury Disaster Loans, the deadline is March 9, 2026. Further details on these loans can be found through the SBA.
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