SBA Administrator Isabella Casillas Guzman introduced a series of transformative updates to the agency’s disaster lending program, aimed at providing increased assistance to disaster survivors and small businesses grappling with the aftermath of federally declared disasters. These adjustments will be in effect for all disasters declared on or after July 31, 2023.

Administrator Guzman emphasized the Biden-Harris Administration’s commitment to optimizing resources for disaster survivors, allowing them to rebound effectively and cultivate resilience in the face of heightened climate change-induced natural disasters. She asserted that the modified disaster loan program rules at SBA will ensure that more adaptable and affordable disaster loans are accessible to small businesses, nonprofit organizations, renters, and homeowners. The ultimate goal is to expedite recovery, enabling communities to thrive once again.