URBANDALE, Iowa -- In the aftermath of the severe storms, flooding, and tornadoes that struck Iowa, people who seek state or federal disaster assistance may 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 qualify for a loan. This form must be completed and returned before any further assistance can be considered.
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 disaster-damaged personal property.
"It is important that you complete this application if you need financial assistance," said Federal Coordinating Officer Carlos Mitchell. "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 Households program. To receive either a loan or a grant, you must complete and return the SBA loan application. If you think you cannot afford a loan you must still fill out the SBA loan application to be considered for a possible grant."
Steve Zimmerman, State Coordinating Officer for the Iowa Homeland Security and Emergency Management Division stated, "If, after returning the packet, you qualify for the Individuals and Households Program, you will receive a check and letter explaining the losses for which you are being reimbursed."
People who suffered damage from the severe storms, flooding, and tornadoes of May 5-7, who have not applied, should call the toll-free registration number to begin the recovery process. FEMA's toll-free registration number is 1-800-621-FEMA. For the hearing- or speech-impaired, the TTY number is 1-800-462-7585. The registration telephone number is available from 7 a.m. to 8 p.m. (local time) Monday thru Sunday until further notice.
FEMA coordinates the federal government's role in preparing for, preventing, mitigating the effects of, responding to, and recovering from all domestic disasters, whether natural or man-made, including acts of terror.