Below is a statement from Snohomish County Executive Dave Somers on President Donald J Trump’s approval of the $200 million Major Disaster Declaration request by Governor Bob Ferguson for the record-breaking December 2025 floods:
“This major disaster declaration can help unlock additional resources to recover from the record flooding in December,” Executive Somers told the Lynnwood Times. “Many families, farmers and businesses continue to experience impacts from flooding, and our county had more than $18 million in damage to public infrastructure. The county is working now with federal, state and local partners on next steps and potential timelines for public and individual assistance. We’ll share more information as it’s available.”
Individuals and families who sustained losses in the designated areas should first file claims with their insurance providers and then apply for assistance online at www.DisasterAssistance.gov, by calling 1-800-621-3362 or by using the FEMA App. If you use a relay service, such as video relay service (VRS), captioned telephone service or others, provide FEMA the number for that service. More information about the declaration and the portal to apply for release are available here.
Other SBA Disaster Relief
SBA currently has a Recovery Center location at Snohomish Library, 311 Maple Avenue, Snohomish, WA 98290.
There are essentially two types of disaster loans immediately available to residents and businesses impacted by the floods with hard deadlines approaching — Physical Damage Loans and Economic Injury Disaster Loans.
Physical damages [https://www.sba.gov/funding-programs/disaster-assistance/physical-damage-loans] to a property, home, or small business related to the December flooding may be eligible for Physical Damage Loans. Approved applicants may borrow up to $500,000 to repair or replace their primary residence. Both homeowners and renters are eligible for up to $100,000 to replace personal property such as clothing, furniture, vehicles and appliances damaged in the disaster. The loans cover only disaster losses not fully covered by insurance or other sources, with any insurance proceeds deducted from the eligible amount.
Secondary homes and vacation properties are not eligible. However, qualified rental properties may qualify.
Loan terms include a 12-month deferral of the first payment with no interest accrual during that period. For those unable to obtain credit elsewhere — a determination made by the SBA — the interest rate will not exceed 4%. Physical Damage Loans can run up to 30 years, with no prepayment penalties or fees.
The application deadline for a Physical Damage Loan is April 27, 2026.
The second available loan assistance is the Economic Injury Disaster Loan [https://www.sba.gov/funding-programs/disaster-assistance/economic-injury-disaster-loans] for small businesses who may not have experienced a physical damage, but suffered an economic injury such as not being able to meet financial obligations because of the floods.
This loan provides working capital to help businesses meet financial obligations and pay regular operating expenses until normal operations resume. To qualify, a business must demonstrate “substantial economic injury,” meaning it is unable to meet its obligations and necessary operating expenses as a direct result of the disaster. A loss of expected profits or a decline in sales alone does not qualify.
Businesses must be physically located in the declared disaster area, directly impacted by the flooding and unable to obtain credit elsewhere, as determined by the SBA. Loan amounts are based on the company’s financial needs and can help cover expenses the business would have met if the disaster had not occurred — even if it suffered no physical damage.
The loans carry a 12-month deferral on the first payment with no interest accrual during that period. The interest rate will not exceed 4%. Repayment terms can extend up to 30 years based on the business’s ability to repay, with no prepayment penalties or fees.
Collateral is required for an Economic Injury Disaster Loan over $50,000. For loans of $200,000 or less, the SBA will not require a business owner to pledge their primary residence as collateral if the owner has other assets of equal quality and value.
The application deadline for an Economic Injury Disaster Loan is November 24, 2026.
Author: Mario Lotmore
