Even If You Don't Want A Loan-Return Your Completed SBA Loan Application As Quickly As Possible

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Release date: 
May 18, 2009
Release Number: 
1834-027

LITTLE ROCK, Ark. -- Even if they don't want a loan, Arkansans who have registered for state and Federal Emergency Management Agency disaster assistance are encouraged to complete and return their U. S. Small Business Administration (SBA) disaster loan applications as soon as they receive them.

Homeowners, businesses and renters who register for disaster assistance may receive an SBA loan application within seven to ten days after registering. Completing the application is a necessary step in obtaining some types of disaster assistance (including disaster grants), and a quick return may also mean faster aid to those in need.  

"If an applicant is referred to the SBA, they need to complete that part of the process before we can look at other disaster aid options," said Federal Coordinating Officer Mike Moore. "Filling out an SBA application does not guarantee that an applicant will be approved for a loan, nor does it mean that they must accept the loan."

SBA loans are the largest source of disaster funds for making substantial repairs or rebuilding damaged structures to their pre-disaster condition. Actual loan amounts and terms are set by the SBA and are based on each applicant's financial condition. The low-interest disaster loans are available to homeowners, renters and business owners. 

For those who need help in filling out their SBA application, SBA representatives can provide face-to-face assistance at any of the Disaster Recovery Centers open in the disaster-affected counties.

Applicants may apply online using the Electronic Loan Application (ELA) via SBA's secure Web site at https://disasterloan.sba.gov/ela.

Disaster loan information and application forms may also be obtained from SBA's Customer Service Center by calling toll-free (800) 659‑2955, emailing disastercustomerservice@sba.gov, or visiting SBA's Web site at www.sba.gov/services/disasterassistance.

Hearing-impaired individuals may call (800) 877‑8339.

FEMA leads and supports the nation in a risk-based, comprehensive emergency management system of preparedness, protection, response, recovery, and mitigation, to reduce the loss of life and property and protect the nation from all hazards including natural disasters, acts of terrorism, and other man-made disasters.

Last Updated: 
July 16, 2012 - 18:46
State/Tribal Government or Region: 
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