These areas are eligible for both physical damage loans and Economic Injury Disaster Loans from the SBA. Businesses and private nonprofits may borrow up to $2 million to repair or replace real estate or assets damaged by the disaster. Chris Stallings—Associate Administrator of the Office of Disaster Recovery and Resilience at SBA—said, “One distinct advantage of SBA’s disaster loan program is the opportunity to fund upgrades reducing the risk of future storm damage. I encourage businesses and homeowners to work with contractors and mitigation professionals to improve their storm readiness while taking advantage of SBA’s mitigation loans.” Interest rates start at 4% for businesses; 3.625% for nonprofits; and 2.875% for homeowners or renters with terms up to 30 years.