My response is not specific to an SBA loan from Hurricane Michael-it is a general response. A Loan for which you are obligated to repay is NOT income. However, if this is a loan that you have defaulted on and have been issued a F1099C for cancellation of debt, then it is income. Also, if it is not a loan, but a grant it is another animal. A Loan which you are repaying and not in default on is NOT income.