SBA Urges Applicants to Submit Loan Applications As Quickly As Possible

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Release date: 
May 21, 1999
Release Number: 
1274-15

TEXARAKANA, Texas -- Residents of Bowie and Red River counties who suffered damages as a result of the March 4 tornadoes, and have registered for disaster recovery assistance are urged to fill out and return their loan applications to the U.S. Small Business Administration (SBA) as quickly as possible.

"People should not wait until they have settled their insurance claim to file their SBA loan application," said John Bates of SBA. "It is important that people get their completed loan forms to us promptly so we can start processing their application. Submitting an application does not mean someone has to accept the loan if it is approved."

The low-interest disaster loans are one component of disaster recovery programs available to residents who had losses as a result of the tornadoes. The loans are long-term assistance for people to rebuild or repair major damage to their homes or businesses.

To date, SBA has approved more than $431,000 in disaster loans for applicants. With an approved loan, funds become available to start the rebuilding and repairing process right away. Adjustments based on insurance payments can be made after the loan has been approved, if necessary.

Individuals who have registered for assistance with FEMA and who have questions about their SBA application forms or other recovery assistance programs may call the FEMA Helpline at 1-800-525-0321 (TTY 1-800-660-8005 for speech- or hearing-impaired individuals) from 8 a.m. to 6 p.m CDT Monday through Saturday. They also may visit the Disaster Recovery Center at the DeKalb Middle School from 10 a.m. to 6 p.m. Monday through Saturday to speak face to face with a recovery specialist.

Anyone who has not yet registered for assistance and who had damages or losses as a result of the tornadoes is urged to call FEMA teleregistration at 1-800-462-9029 (TTY 1-800-462-7585) from 8 a.m. to 6 p.m. CDT daily.

Last Updated: 
July 16, 2012 - 18:46
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