SBA disaster loans available for Thurston County flood victims 

Thurston County residents, businesses and nonprofit organizations impacted by the 2025 winter storms have until April 27 to apply for low-interest federal disaster loans through the U.S. Small Business Administration (SBA). 

In a statement released on Thursday, April 9, the City of Lacey announced the loans are available to residents and businesses in the county, which the SBA designated as a disaster area after flooding struck from Dec. 5 through Dec. 22, 2025. 

The SBA issued a separate disaster news release on March 27 reminding eligible applicants of the approaching deadline. 

Four loan types are available: physical damage, economic injury, mitigation assistance and military reservist assistance. 

Businesses and nonprofits may borrow up to $2 million for real estate, equipment and other damaged assets. Homeowners may apply for up to $500,000 for primary residence repairs, and up to $100,000 is available to homeowners and renters for personal property. 

Interest rates are as low as 4 percent for businesses, 3.625 percent for nonprofits and 2.875 percent for homeowners and renters, with repayment terms up to 30 years. Interest does not accrue and payments are not due until 12 months after the first disbursement. 

Applicants may also qualify for a loan increase of up to 20 percent of their verified physical damage for eligible mitigation improvements, including wind-rated garage doors and storm shelters. 

The Economic Injury Disaster Loan program extends to small businesses, agricultural cooperatives, nurseries and nonprofits, including faith-based organizations, for financial losses directly tied to the disaster. The SBA cannot provide loans to agricultural producers, farmers or ranchers, except for aquaculture enterprises. 

"One distinct advantage of SBA's disaster loan program is the opportunity to fund upgrades reducing the risk of future storm damage," said Chris Stallings, Associate Administrator of the Office of Disaster Recovery and Resilience at the SBA. 

Physical damage applications are due by April 27, with a 60-day grace period following that date. Economic injury applications are being accepted through Nov. 24. 

More information and applications are available at the SBA’s web page. Applicants may also call (800) 659-2955 or email.