SAIPAN — The U.S. Small Business Administration has opened a disaster loan program for businesses, homeowners and renters across the Commonwealth of the Northern Mariana Islands following Super Typhoon Sinlaku, with deadlines extending through mid-2026 and into 2027 depending on loan type.
The program covers three categories of borrowers. Business Physical Disaster Loans are available to businesses of any size and private nonprofit organizations to repair or replace disaster-damaged property, including real estate, inventory, supplies, machinery and equipment. Economic Injury Disaster Loans provide working capital to help small businesses and most private nonprofits meet financial obligations they cannot cover as a direct result of the disaster. Home Disaster Loans are available to homeowners and renters to repair or replace damaged real estate and personal property, including vehicles.
The deadline to apply for physical damage loans is June 22, 2026. The deadline for economic injury loans is Jan. 25, 2027.
Interest rates for home loans start at 2.875% for applicants without credit available elsewhere and 5.75% for those with. Business loan rates start at 4% without credit available elsewhere and 8% with. Nonprofit rates are fixed at 3.625% regardless of credit availability. Loan terms can extend up to 30 years, though businesses with credit available elsewhere are limited to a seven-year term.
Loan limits are $2 million for businesses and $500,000 for home real estate repairs, with an additional $100,000 available for personal property. Only uninsured or uncompensated losses are eligible.
Applicants may also be eligible for additional mitigation funds — up to 20% of verified physical damage — for improvements such as retaining walls, seawalls or sump pumps. SBA can also refinance prior mortgages in some circumstances for borrowers who have suffered substantial uncompensated disaster damage.
Applications can be submitted online at lending.sba.gov. For assistance, contact the SBA Customer Service Center at 1-800-659-2955 or disastercustomerservice@sba.gov. TTY users should dial 711.
