PEARL, Miss. (MEMA) – The Small Business Administration has opened Disaster Loan Outreach Centers to help victims of the April 2-6, 2025 storms.
Home and business owners in Marshall and Tate counties, as well as the contiguous counties of Benton, Desoto, Lafayette, Panola, Tunica, and Union, as well as the counties of Fayette and Shelby County in Tennessee, are eligible to apply for SBA loans.
The Centers are located in the following counties:
Marshall County
Slayden Baptist Church
Lamar, MS 38642
Union County
Old National Guard Armory
New Albany, MS 38652
Tate County
Tate County Planning Commission
201 French’s Alley
Senatobia, MS 38668
The centers are open Monday through Friday from 8 a.m. to 5 p.m., and on Saturday from 10 a.m. to 2 p.m. They are closed on Sunday. All three centers will close permanently on May 27th at 3 p.m.
What are Loan Terms?
The law authorizes loan terms up to a maximum of 30 years. However, the law restricts businesses with credit available elsewhere to a maximum 7-year term. SBA sets the installment payment amount and corresponding maturity based upon each borrower’s ability to repay. Borrowers may be required to provide collateral.
The application filing deadline for physical damage is July 7, 2025. For economic injury: February 9, 2026.
Applications for disaster loans may be submitted online using the MySBA Loan Portal at https://lending.sba.gov. For further assistance, applicants can contact the SBA disaster assistance customer service center by email at disastercustomerservice@sba.gov or by phone at 1-800-659-2955.
| Physical Damage Loan Types | No Credit Available Elsewhere | Credit Available Elsewhere |
| Home Loans | 2.750% | 5.500% |
| Business Loans | 4.000% | 8.000% |
| Non-Profit Organizations | 3.625% | 3.625% |
| Economic Injury Loan Types | No Credit Available Elsewhere | Credit Available Elsewhere |
| Businesses & Small Agricultural Cooperatives | 4.000% | N/A |
| Non-Profit Organizations | 3.625% | N/A |
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SBA Approves April 2-6 Request for Assistance