Alabama businesses and residents affected by the tornado on Jan. 25-26, 2021 can apply for low-interest disaster loans from the U.S. Small Business Administration, Administrator Isabella Casillas Guzman announced today. Note: This is for the “Fultondale” tornado from January 25-26, and not for the multiple tornadoes of March 2021.

  • Apply Online:
  • Deadlines: June 1, 2021 for Physical Property Damage, January 3, 2022 for Economic Injury.
  • Amounts: Up to $2 million for businesses & nonprofits; Up to $200,000 for homeowners.
  • Interest Rates: As low as 3% for businesses, 2% for nonprofits, and 1.125% for homeowners & renters
  • Terms: 30 years
  • Forgivable? No. This is a low-interest disaster Loan product.
  • Download: Fact Sheet and Flyer

Administrator Guzman made the loans available in response to a letter from Alabama Gov. Kay Ivey on March 30, requesting a disaster declaration by the SBA. The declaration covers Jefferson County and the adjacent counties of Bibb, Blount, Saint Clair, Shelby, Tuscaloosa and Walker in Alabama.

“The SBA is strongly committed to providing the people of Alabama with the most effective and customer-focused response possible to assist businesses of all sizes, homeowners and renters with federal disaster loans,” said Guzman. “Getting businesses and communities up and running after a disaster is our highest priority at SBA.”

To assist businesses and residents affected by the disaster, the SBA will open a Disaster Loan Outreach Center (DLOC) at 9 a.m. Wednesday, April 7 at the Fultondale Public Library. Customer Service Representatives will be available at the DLOC to answer questions about the disaster loan program and help individuals complete their applications. Due to the ongoing COVID-19 pandemic, the SBA has established protocols to help protect the health and safety of the public. Visitors to the DLOC are encouraged to wear a face mask. The center will stay open until further notice.

Jefferson County
City of Fultondale Public Library 500 Byrd Lane
Fultondale, AL 35068
Opening: Wednesday, April 7, 2021

Hours: Monday – Friday from 9 a.m. to 6 p.m. Saturday, 10 a.m. to 2 p.m. on April 10, only
Closed: Saturday (except as noted) and Sunday

“Businesses and private nonprofit organizations may borrow up to $2 million to repair or replace disaster damaged or destroyed real estate, machinery and equipment, inventory, and other business assets,” said SBA’s Alabama District Director Tom Todt.
For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations, the SBA offers Economic Injury Disaster Loans to help meet working capital needs caused by the disaster. Economic Injury Disaster Loan assistance is available regardless of whether the business suffered any physical property damage.
“Loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for loans up to $40,000 to repair or replace damaged or destroyed personal property,” said Kem Fleming, director of SBA’s Field Operations Center East in Atlanta.
Applicants may be eligible for a loan amount increase up to 20 percent of their physical damages, as verified by the SBA for mitigation purposes. Eligible mitigation improvements may include a safe room or storm shelter, sump pump, French drain or retaining wall to help protect property and occupants from future damage caused by a similar disaster.
Interest rates are as low as 3 percent for businesses, 2 percent for nonprofit organizations, and 1.125 percent for homeowners and renters, with terms up to 30 years. Loan amounts and terms are set by the SBA and are based on each applicant’s financial condition.
Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at
Businesses and individuals may also obtain information and loan applications by calling the SBA’s Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the deaf and hard-of-hearing), or by emailing Loan applications can also be downloaded at Completed applications should be returned to the center or mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
The filing deadline to return applications for physical property damage is June 1, 2021. The deadline to return economic injury applications is Jan. 3, 2022.