The Protect Our Homes Act establishes a new loan program through the Small Business Administration that allows homeowner associations to borrow money to repair common areas damaged by disasters and to implement measures that protect against future disasters. Eligible organizations are homeowner associations representing single residential communities, and they can receive loans up to $500,000 (or up to $2 million if they are major employers in the disaster area). The loans carry interest rates tied to U.S. Treasury rates plus a small percentage, can be repaid over up to 30 years, and require no collateral for loans of $14,000 or less. The program applies to homeowner associations located in areas affected by disasters within the past five years, as determined by the President, the Secretary of Agriculture, or the SBA Administrator, or certified by a state governor as needing financial assistance.