San Antonio, TX -- In the aftermath of Tropical Storm Fay, people who have registered for disaster assistance will find that they have also been issued a U. S. Small Business Administration (SBA) loan application.
These forms are sent to all applicants (both individuals and business owners) who may or may not qualify for a loan. This form must be completed and returned before any further assistance can be considered.
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 have low interest rates and may be long term, making them affordable to almost any budget. The SBA can loan up to $200,000 to repair homes and up to $40,000 to replace disaster-damaged personal property. A maximum of $1.5 million is available for businesses.
"It is essential that you complete this application if you need financial assistance," said Federal Coordinating Officer Scott Wells. "The SBA loan is an important source of recovery funds. If you do not qualify for a loan, you may be considered for a grant from the Individual and Family Grant Program. To receive either a loan or a grant however, you must complete and return the SBA loan application."
Duke Mazurek, state coordinating officer, stated, "If, after returning the packet, you qualify for the Individual and Family Grant program, you will receive a check and letter explaining the losses for which you are being reimbursed."
Those who suffered damage from Tropical Storm Fay and live in the ten declared counties can still apply for disaster assistance by calling FEMA's toll-free registration number at 1-800-621-FEMA (3362) or (TTY) 1-800-462-7585 for the speech or hearing impaired.