What can SBA loans be used for?

SBA loans are designed to provide financial assistance to individuals and businesses for a variety of purposes. One of the primary uses of these loans is for repairing or replacing personal property that has been damaged or destroyed, particularly in the wake of a disaster. This aligns with the mission of the Small Business Administration to promote economic recovery and resilience.

Given this understanding, the option regarding the repair or replacement of personal property accurately reflects the intended use of SBA loans. Such loans are crucial in helping individuals recover from losses, enabling them to restore their living conditions and maintain their standard of living after a disaster strikes.

The other options, while they reflect possible uses of different types of loans, do not align specifically with the SBA's offerings. For example, loans for business expansion may exist but are not the main focus of SBA loans in the context of disaster recovery. Similarly, loans exclusively for purchasing vehicles or for future investment opportunities do not capture the broad purpose of aiding individuals in need of immediate assistance to restore their property from damage.