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SBA briefs Wauwatosa Planning Commission on disaster loans available to residents and businesses
Summary
SBA public-affairs specialist Karim Germy outlined low-interest disaster loans for homeowners, renters, nonprofits and small businesses after the Aug. 9—12 disaster, including key deadlines and application options at recovery centers and online.
Karim Germy, a public affairs specialist with the U.S. Small Business Administration, told the Wauwatosa Planning Commission that survivors of the Aug. 9—12 disaster in Milwaukee, Washington and Waukesha counties can apply for low-interest SBA disaster loans to repair property and cover business losses.
Germy said the SBA offers physical-damage loans for homeowners up to $500,000 and up to $100,000 for personal property, and that renters may qualify for personal-property assistance. For businesses, the agency offers physical-damage and Economic Injury Disaster Loans (EIDL) with maximums of $2 million. "We provide low-interest loans," Germy said, noting rates "as low as 3% to 3.6%" and terms up to 30 years with no payment required in the first year. He also listed application deadlines the agency provided in the meeting: the physical-damage application window was noted as ending Nov. 12, with the EIDL (economic injury) deadline currently listed as June 11, 2026.
Germy encouraged residents to apply at an SBA recovery center or online at lending.sba.gov and said the agency works alongside FEMA and partner organizations. He left printed materials and contact information for follow-up questions.
The presentation was given at the start of the Planning Commission meeting as an informational briefing; there was no action attached to the item.
Next steps: Germy directed interested residents and businesses to the SBA website and local recovery centers for application and documentation assistance.
