St. Clair, MO -- In the aftermath of the flash floods that struck East Central Missouri Counties on May 6-7, people who seek disaster assistance may find that they have also been issued a U.S. Small Business Administration (SBA) loan application. These forms are sent to most applicants (both individuals and business owners) who had damage, whether or not they may qualify for a loan. This form must be completed and returned before any further assistance can be considered from other programs. If you received a loan application, you are urged to submit your completed forms immediately.
The SBA can provide loans to homeowners and renters, as well as businesses, to help pay for the repair or replacement of disaster losses. These loans are at low interest rates and long terms that make the loans affordable to almost any budget. The SBA can loan up to $200,000 to repair homes, and up to $40,000 to replace flood-damaged personal property.
"It is important that you complete this application if you need financial assistance," said Federal Coordinating Officer Peter Martinasco. "The SBA loan program is an important source of recovery funds. However, if the SBA denies you a loan, you may be considered for a grant from the Individual and Family Grant Program. If you don't submit a loan application, you cannot be denied a loan. So, even if you think you cannot afford a loan, you must still fill out and submit the SBA loan application to be considered for a possible loan or grant."
Staff at the SBA Workshop at 501 E. Locust St. in Union [City Hall, lower level] can help you complete your loan application. They are available from 9:00 am to 6:00 pm, weekdays.
Individuals and businesses that suffered damage from the flash floods on May 6-7, 2000 who have not yet applied, should call the registration number to begin the recovery process. FEMA's toll-free number is 1-800-462-9029. For the hearing- or speech-impaired, the TTY number is 1-800-462-7585. The registration telephone number is available from 8 a.m. to 5 p.m. Monday through Friday.