Thursday, November 15, 2007

Getting Disaster Help from the SBA

What You Need to Know About Disaster Assistance

  • If you are a homeowner or renter, FEMA may refer you to SBA. SBA disaster loans are the primary source of money to pay for repair or replacement costs not fully covered by insurance or other compensation.
  • SBA offers low-interest disaster loans to homeowners, renters, businesses of all sizes and private non-profit organizations.
  • Homeowners may borrow up to $200,000 to repair or replace their primary residence.
  • Homeowners and renters may borrow up to $40,000 to replace personal property.
  • Businesses may borrow up to $1.5 million for any combination of property damage or economic injury.
  • SBA offers low-interest working capital loans (called Economic Injury Disaster Loans) to small businesses having difficulty meeting obligations as a result of the disaster.

What You Need To Do

  • Homeowners and renters must begin by registering with FEMA. If you haven’t already done so, call (800) 621-3362.
  • Homeowners and renters who receive a disaster loan application should complete and return it to SBA, even if they are not sure if they will need or want a loan. If SBA cannot approve your application, in most cases they refer you to FEMA’s Other Needs Assistance (ONA) program for possible additional assistance.
  • All businesses should register with FEMA.

Contact SBA

  • SBA representatives will be at all federal/state Disaster Recovery Centers (DRC). Call the SBA at (800) 659­2955 for information on DRC openings, hours of operation and locations.
  • Submit your completed application by visiting the SBA desk at any local Disaster Recovery Center (DRC), or by mailing it to: SBA, 14925 Kingsport Rd., Ft. Worth, TX 76155. For additional information visit our website at .