Businesses and nonprofit organizations in parts of Nebraska and Iowa can now apply for federal disaster loans following severe weather associated with the remnants of Hurricane Polo.
The U.S. Small Business Administration announced the assistance October 29, 2026.
The disaster declaration covers five Nebraska counties and one neighboring Iowa county affected by the September 30 through October 1 weather event.
Eligible businesses may seek financing for physical property damage or qualifying economic losses connected to the disaster.
Six Counties Included in Declaration
The federal declaration covers Dodge, Douglas, Sarpy, Saunders, and Washington counties in Nebraska.
Pottawattamie County, Iowa, is also included.
The SBA issued the declaration following an October 19 request from Nebraska Governor Jim Pillen.
The designation establishes geographic eligibility for qualifying disaster assistance.
Businesses must still satisfy program requirements and demonstrate eligible losses associated with the declared event.
Physical Disaster Loans Can Reach $2 Million
Businesses and private nonprofit organizations may apply for physical disaster loans to repair or replace damaged property.
Eligible expenses can include buildings, machinery, equipment, inventory, and other qualifying business assets.
Business physical disaster loans may provide up to $2 million.
The actual amount available depends on verified damage, applicable program limits, and the SBA’s assessment of the applicant.
These loans are intended to support recovery from documented disaster losses rather than general business expansion.
Economic Injury Assistance Available
Some businesses may experience financial losses even when their buildings and equipment remain undamaged.
The SBA’s Economic Injury Disaster Loan program addresses qualifying financial difficulties resulting directly from a declared disaster.
Eligible small businesses, small agricultural cooperatives, and private nonprofit organizations may apply.
The program can provide working capital for expenses such as payroll, fixed debts, accounts payable, and other financial obligations.
Applicants must demonstrate that their financial difficulties are connected to the disaster.
The SBA generally excludes agricultural producers, farmers, and ranchers from these disaster loan programs, except for qualifying aquaculture enterprises.
Interest Rates and Repayment Terms
According to the SBA, disaster loan interest rates are as low as 4% for businesses and 3.625% for nonprofit organizations.
Repayment terms may extend up to 30 years.
Interest does not begin accruing, and payments are not due, until 12 months after the first loan disbursement.
The SBA determines individual loan amounts and repayment terms based on the applicant’s financial circumstances.
Disaster loans must be repaid and should not be confused with unrestricted government grants.
In-Person Assistance Available in Omaha
The SBA opened a Disaster Loan Outreach Center in Douglas County on October 30.
The center is located at Mockingbird Hills Community Center, 10242 Mockingbird Drive, Omaha, Nebraska 68127.
Regular hours are Monday through Friday from 8 a.m. to 5 p.m.
The center will be closed November 3 and November 11.
It is scheduled to close permanently at 5 p.m. November 13.
Business owners may visit the center to obtain application assistance or ask questions about the disaster loan programs.
Two Application Deadlines
Applications involving physical property damage must be submitted by December 28, 2026.
The deadline for economic injury applications is July 26, 2027.
Applicants may also apply through the SBA’s online disaster assistance system.
Business owners should review the requirements for their particular losses and prepare supporting documentation before submitting an application.
For businesses in the six designated counties, the declaration provides access to federal financing intended to support recovery from the late-September and early-October severe weather event.