U.S. Small Business Administration Extends Deadline for Physical Damage Loans for Wisconsin Businesses, Residences, and Private Nonprofits Impacted by August Severe Weather

MADISON — On Mon., Nov. 3, 2025, the U.S. Small Business Administration (SBA) announced that the deadline for physical damage loan applications has been extended for Wisconsin businesses, residences, and private nonprofits impacted by devastating storms that occurred Aug. 9 through Aug. 12, 2025, resulting in tens of millions of dollars in damage. The new deadline for filing a physical damage loan application is Wed., Nov. 12, 2025.

“Months after disastrous weather events hit several Wisconsin counties, many folks and families are still working to rebuild their homes, businesses, and buildings, and it’s critical that communities know what resources are available to help,” said Gov. Evers. “This deadline extension for physical damage loans gives folks and families a little bit of breathing room to apply for the resource they need, and I highly encourage Wisconsinites and businesses who are eligible to make sure they apply for federal assistance, including federal disaster loans available through the Small Business Administration.”

In September, Gov. Evers announced that federal disaster loans were made available through the SBA and encouraged Wisconsinites and local businesses affected by severe weather in August to apply. The governor is once again encouraging those who have been affected to apply for the federal disaster loans from the SBA.

According to the SBA, the deadline extension covers Milwaukee, Washington, and Waukesha counties, which are eligible for both physical damage loans and Economic Injury Disaster Loans (EIDLs) from the SBA. Small businesses and most private nonprofit organizations in Dodge, Fond du Lac, Jefferson, Ozaukee, Racine, Sheboygan, and Walworth counties are eligible to apply only for SBA EIDLs. According to the SBA, EIDLs are available even if the business or private nonprofit did not suffer any physical damage, and they may be used to pay fixed debts, payroll, accounts payable, and other bills not paid due to the disaster.

Further, according to the SBA, affected businesses and nonprofits are eligible to apply for business physical disaster loans and may borrow up to $2 million to repair or replace disaster-damaged or destroyed real estate, machinery and equipment, inventory, and other business assets. Additionally, homeowners and renters are eligible to apply for home and personal property loans and may borrow up to $100,000 to replace or repair personal property, such as clothing, furniture, cars, and appliances. Homeowners may also apply for up to $500,000 to replace or repair their primary residence.

The SBA further states that applicants may also be eligible for a loan increase of up to 20 percent of their physical damage, as verified by the SBA, for mitigation purposes. Eligible mitigation improvements include strengthening structures to protect against high wind damage, upgrading to wind-rated garage doors, and installing a safe room or storm shelter to help protect property and occupants from future damage. More information on available loans, interest rates, and requirements through the SBA is available here.

The deadlines for applications are Nov. 12, 2025, for Home Disaster and Business Physical Disaster Loans and June 11, 2026, for Economic Injury Disaster Loans. Applications for the loans can be submitted online via the MySBA Loan Portal at https://lending.sba.gov. For assistance, contact the SBA Customer Service Center:

• Phone: 1-800-659-2955
• Email: disastercustomerservice@sba.gov
• TTY: Dial 7-1-1 for relay services

Loan applicants may also be eligible for additional funds to cover mitigation improvements that protect property against future damage. The SBA also offers refinancing options for qualified applicants and support for voluntary or involuntary relocation.

Residents and business owners are encouraged to apply as soon as possible to begin the recovery process.

Please note that the disaster loan offerings through the SBA are complementary to and separate from Individual Assistance programs offered through the Federal Emergency Management Agency (FEMA). In September, Gov. Evers announced he had secured approval of a federal disaster declaration, unlocking nearly $30 million to help Wisconsin families and businesses rebuild and recover after extreme weather caused tens of millions of dollars in damages.

Despite the partial approval of FEMA assistance, last week, Gov. Evers announced that the Trump Administration denied Wisconsin’s application for Hazard Mitigation Grant Program Funding for Door, Grant, Milwaukee, Ozaukee, Washington, and Waukesha counties. Additionally, the week before, Gov. Evers announced the Trump Administration also denied Wisconsin’s application for Public Assistance to help address more than $26.5 million in damages to public infrastructure in the six counties impacted. The governor previously announced the Evers Administration plans to appeal both denials by the Trump Administration in the coming weeks.

The governor has been steadfast in his efforts to ensure the communities impacted by these severe weather events have the support and resources they need. On August 11, Gov. Evers declared a state of emergency in response to the severe weather across Wisconsin that occurred over the previous weekend. Following this declaration, the first step needed to receive federal disaster aid and assistance, the governor announced he submitted a request for FEMA to assist the state in conducting a formal federal preliminary damage assessment of the damage caused by the extreme storms and flooding across the state. The governor’s request came as a result of WEM’s reports that the initial state and local damage review suggested Wisconsin would meet the federal threshold to receive federal aid and assistance. On August 27, Gov. Evers requested a formal presidential disaster declaration from President Donald Trump, a portion of which was approved in September.

NOTE: This press release was submitted to Urban Milwaukee and was not written by an Urban Milwaukee writer. While it is believed to be reliable, Urban Milwaukee does not guarantee its accuracy or completeness.