The U.S. Small Business Administration (SBA) announced the opening of a Disaster Loan Outreach Center (DLOC) in Sharp County to support businesses, nonprofits, homeowners, and renters affected by the severe storms, tornadoes, and flooding that occurred between April 2 and April 22.
Beginning today, SBA representatives will be available at the Hardy Fire Station, located at 203 Church St., Hardy, AR, to answer questions and assist with the disaster loan application process. The center will operate Monday through Friday from 9 a.m. to 6 p.m., and Saturday from 9 a.m. to 1 p.m. Walk-ins are welcome, though appointments can be made at appointment.sba.gov.
Low-interest federal disaster loans are available to:
- Businesses and private nonprofits – up to $2 million for physical damages
- Homeowners – up to $500,000 for primary residence repair or replacement
- Renters and homeowners – up to $100,000 for personal property losses
Mitigation loan increases of up to 20% of the verified damage are also available for protective upgrades such as insulation and storm windows.
Economic Injury Disaster Loans (EIDLs) are available to small businesses and nonprofits suffering financial loss due to the disaster, even without physical damage. Interest rates are as low as 2.75% for homeowners and renters, 3.62% for nonprofits, and 4% for businesses, with terms up to 30 years and a 12-month deferral on payments.
The deadline to apply for physical damage loans is July 21, 2025. The deadline for economic injury applications is February 23, 2026.
Apply online at sba.gov/disaster, or call (800) 659-2955. For individuals with hearing or speech disabilities, dial 7-1-1 to access relay services.
For updates, follow SBA Disaster Recovery and Resilience on X, Facebook, LinkedIn, and Instagram.
