Local businesses urged to apply for federal flood funds by June 10
Published 5:00 pm Monday, June 1, 2026
In the wake of the damage caused by the Dec. 2026 atmospheric rivers and flooding, it is important to remember that June 10 is the deadline for those impacted by these events to apply for federal assistance programs, including the Small Business Administration, which are loans that can by applied to personal or business-related losses not covered by insurance or FEMA funding.
The U.S. Small Business Administration (SBA) Disaster Loan Program is available as low-interest loans to Washington businesses, private nonprofit organizations and residents who were affected by flooding, landslides, mudslides, straight-line winds and severe storms from Dec. 5-19, 2025.
Up to $2 million are available for businesses and private nonprofits for repairs or replacement of real estate, purchase machinery and equipment, inventory and other assets that were damaged or destroyed during the severe storms. Interest rates are as low as 4% for businesses and 3.625% for non-profits for a term up to 30 years.
When it comes to economic injury, up to $2 million are available for businesses and nonprofits to go towards working capital which would help pay obligations until normal operations are able to resume. These funds can be used to pay for payroll, lease or mortgage, utilities, vendor payments, bank debt payments, etc. These interest rates are also as low as 4% for businesses and 3.625% for non-profits for a term up to 30 years.
Homeowners applying for disaster loans may borrow up to $500,000 to repair, rebuild and/or replace primary residences to pre-disaster conditions with interest rates as low as 2.875% fixed for up to a 30-year term.
Renters and homeowners can borrow up to $100,000 to repair or replace personal property. With interest rates as low as 2.875% fixes for up to a 30-year term, funds from this loan can be used to purchase or repair vehicles, boats, snow machines, furniture, appliances, clothing, everyday camping gear for hunting, fishing, cooking and safety.
The SBA says that there are several advantages to applying for the program, including:
• Being able to apply for an SBA loan the same day of registration with Federal Emergency Management Agency (FEMA)
• If approved, there is no obligation to take a loan
• No waiting for insurance to settle
• All loans have a 12-month deferment and no interest accrues during this time
In King County, areas in the Snoqualmie Valley and along the Cedar River were heavily impacted by the December floods, which reached historic, record-breaking levels in some areas. On May 21, the county warned residents that the flooding has caused greater drowning hazards in local rivers and that swimmers, tubers and kayakers must be extra cautious.
Applications for disaster loans may be submitted online using the MySBA Loan Portal at lending.sba.gov or other locally announced locations. Please contact the SBA’s Customer Service Center by email at disastercustomerservice@sba.
