SBA Loan Application and FEMA Eligibility

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Release date: 
November 1, 1999
Release Number: 
1293-59

HAMPTON, Va. -- Virginia residents who suffered flood damage from Hurricane Floyd and were mailed a U.S. Small Business Administration (SBA) loan application, are reminded that the loan applications must be completed and returned promptly.

Disaster officials stress that eligibility for Federal Emergency Management Agency (FEMA) long-term disaster assistance cannot be determined until after the SBA loan application is completed and returned. SBA officials emphasize that SBA disaster loans are not just for businesses, but are designed as the long-term, full recovery relief for disaster victims for both their housing and business needs.

The SBA has several help programs for citizens who need assistance in filling out the forms. Residents can visit one of the SBA offices set up to aid disaster victims. Marge Cirillo, officer-in-charge of the SBA Virginia disaster relief operation, encourages people who need help to ask for it, emphasizing that, "If you come in, I have loan officers who will help you fill out the forms." SBA offices are located at:

National Guard Armory
900 Armory Drive
Franklin
(757) 569-1629
Monday - Friday 10: a.m. to 5:00 p.m.
Saturday 10 a.m. to 2:00 p.m.

Volunteer Fire Department
8337 Free School Lane
Saxis
(757) 824-9740
Monday - Tuesday, 10 a.m. to 5 p.m.

Accomack County Building
23296 Court House Avenue
Accomack
(757) 787-5700
Wednesday, Nov. 3 to Friday, Nov. 5, 9 a.m. to 5 p.m.

Residents can also call 1-800 659-2955 (toll free) and receive immediate help from SBA loan officers over the phone.

Additionally, workshops that are designed to help individuals complete the loan application and to answer questions will be conducted in various locations from Nov. 1 to Nov. 5. Residents are encouraged to call the SBA office numbers above for times and locations. The interest rate for most SBA home loans is currently set at 3.625 percent. For business loans, loans to non-profit organizations and economic injury loans the rate is 4 percent.

Last Updated: 
July 16, 2012 - 18:46
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