Disaster Loans Approved for Missouri Counties Affected by Severe Storms and Flash Flooding

Strategic Insights -

Severe storms and flash flooding that occurred on June 29 have left a trail of destruction in Missouri, affecting multiple counties. To support affected residents and businesses, the U.S. Small Business Administration has approved Governor Mike Kehoe's request to make available low-interest federal disaster loans. The loans will be available to homeowners, renters, businesses, and private nonprofits in Christian, Dade, Dallas, Greene, Lawrence, Polk, and Webster counties. These loans will provide much-needed financial assistance to those impacted by the disaster, allowing them to recover and rebuild.

Key Takeaways:

  • The U.S. Small Business Administration has approved Governor Mike Kehoe's request to make available low-interest federal disaster loans to homeowners, renters, businesses, and private nonprofits in seven Missouri counties affected by severe storms and flash flooding.
  • The loans will have interest rates as low as 4% for businesses, 3.62% for nonprofits, and 2.81% 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 average loan amounts and terms will be set by the SBA based on each applicant's financial condition.
  • A Disaster Loan Outreach Center (DLOC) will remain open in Greene County to provide in-person support for impacted individuals.
  • The SBA's Economic Injury Disaster Loan program is also available to eligible small businesses, small agricultural cooperatives, nurseries, and private nonprofit organizations impacted by financial losses directly related to the disaster.

Statistics:

  • The disaster declaration makes the loans available in Christian, Dade, Dallas, Greene, Lawrence, Polk, and Webster counties.
  • The deadline to return physical damage applications is September 26, 2025 (Source: [1] SBA News Release)
  • The deadline to return economic injury applications is April 28, 2026 (Source: [1] SBA News Release)
  • Over 40 uninsured homes and businesses were majorly damaged or destroyed in the flash flooding in Lincoln and Pike counties (Source: [2] SEMA News Release)

Sources:

[1] U.S. Small Business Administration News Release, "SBA Disaster Declaration: Disaster Loans Available in Seven Missouri Counties Affected by Severe Storms and Flash Flooding".

[2] SEMA News Release, "SEMA Coordinating with Local Officials to Determine SBA Request for Flood-Damaged Homes and Businesses".