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SBA Loans for Homeowners and Renters After a Disaster - VERMONT FLOODING IN 2023

Vermont Flooding

FEMA assistance does not cover the full cost of recovering from a disaster for many homeowners and renters. FEMA assistance helps get a home back to a condition where it is liveable (safe to live in). A loan from the SBA could help fill in the gaps.

In addition to businesses, the Small Business Administration (SBA) offers loans to homeowners, renters and nonprofits in counties with a disaster declaration. As of September 1, that is:

  • Caledonia County
  • Chittenden County
  • Lamoille County
  • Orange County
  • Orleans County
  • Rutland County
  • Washington County
  • Windham County, and
  • Windsor County.

 It’s important to remember that these are loans that have to be repaid.

  • Homeowners can apply to borrow up to $200,000 to repair or replace a primary residence.
  • Renters and homeowners can apply to borrow up to $40,000 to repair or replace personal property damaged or destroyed in a disaster.
  • SBA loans can be for up to 30 years.
  • Interest rates for those who cannot get credit somewhere else are as low as 2.5%. The SBA determines if you can get credit somewhere else and sets the terms of your SBA loan.
  • For more information:

FEMA sometimes refers applicants to the SBA loan program. FEMA uses your household annual gross income and number of dependents to determine if you should be referred to the SBA. You would then apply to SBA for a low-interest disaster loan.

After you apply, you don’t have to accept an SBA loan offer. But keep in mind, if you are approved and you do not accept it, you may not be considered for certain types of FEMA disaster assistance including: personal property, transportation and group flood insurance policy.

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Updated: Jun 29, 2026