By Bryan Manabat
[email protected]
Variety News Staff
THE U.S. Small Business Administration is expanding its presence in the CNMI following Super Typhoon Sinlaku, outlining a wide range of federal disaster loans now available to homeowners, renters, businesses, and nonprofit organizations across Saipan, Tinian, Rota, and the Northern Islands.
SBA Public Affairs Specialist Raenada Mason said the agency is coordinating closely with local and federal partners to ensure survivors understand the assistance available and how to apply.
“Following Typhoon Sinlaku, SBA is actively coordinating recovery response and working closely with local and federal partners to ensure survivors have access to critical assistance,” Mason said. “I have also been conducting outreach across the islands through local media outlets and community organizations to raise awareness of available SBA programs.”
According to the SBA’s disaster fact sheet, residents and business owners in the declared disaster area may qualify for three primary types of federal disaster loans:
• Home Disaster Loans — Up to $500,000 for homeowners to repair or replace disaster-damaged real estate, and up to $100,000 for personal property, including vehicles.
• Business Physical Disaster Loans — Up to $2 million for businesses of any size and private nonprofits to repair or replace damaged real estate, equipment, inventory, and other physical losses.
• Economic Injury Disaster Loans — Working capital loans of up to $2 million for small businesses, small agricultural cooperatives, aquaculture businesses, and most private nonprofits unable to meet financial obligations due to the disaster.
The fact sheet notes that interest rates vary depending on whether applicants have “credit available elsewhere.” For example, home loans carry rates of 2.875% for those without credit available elsewhere and 5.750% for those who do. Business loans range from 4.000% to 8.000%, while nonprofit organizations receive a fixed rate of 3.625%.
Loan terms may extend up to 30 years, depending on an applicant’s ability to repay. The SBA may also provide additional mitigation funds — up to 20% of verified physical damage — to help protect repaired structures from future storms.
Mason said the SBA is also working to establish a physical location in the CNMI where survivors can receive in-person assistance.
“We are also working closely with local partners to secure a physical location,” she said. “Once finalized, we will share confirmed details with the public, including location, hours of operation, and available services.”
The deadline to apply for physical damage loans is June 22, 2026, while economic injury applications are due Jan. 25, 2027.
Applications may be submitted online through the MySBA Loan Portal at lending.sba.gov. Survivors may also contact the SBA Customer Service Center at 1-800-659-2955 or email [email protected] for assistance.
Bryan Manabat was a liberal arts student of Northern Marianas College where he also studied criminal justice. He is the recipient of the NMI Humanities Award as an Outstanding Teacher (Non-Classroom) in 2013, and has worked for the CNMI Motheread/Fatheread Literacy Program as lead facilitator.
