Homeowners, Renters Can Qualify For SBA Loans

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Release date: 
September 29, 2010
Release Number: 
1933-019

NEW BERLIN, Wis. -- Low-interest disaster assistance loans from the U.S. Small Business Administration (SBA) are available to qualified homeowners, renters, businesses and most private nonprofit organizations in Milwaukee and Grant counties. Some individuals received disaster loan applications from the SBA after President Obama declared Individual Assistance to help the counties recover from severe storms, tornadoes and flooding July 20-24. The Federal Emergency Management Agency (FEMA) and Wisconsin Emergency Management (WEM) want to urge residents to complete the application and return it.

"Residents of Grant and Milwaukee counties should be aware of programs such as SBA disaster loans that can augment disaster assistance and bolster the recovery effort," said FEMA Federal Coordinating Officer Paul Ricciuti.

Disaster loans of up to $200,000 are available to homeowners to repair or replace disaster-damaged real estate. Homeowners and renters are eligible for up to $40,000 to repair or replace disaster-damaged personal property.

Other disaster assistance could be available to individuals who do not qualify for SBA disaster loans.

"Homeowners and renters who do not qualify for an SBA disaster loan may be eligible for additional FEMA disaster assistance to cover personal property, vehicle repair or replacement and moving and storage expenses," said WEM Administrator Michael Hinman.

To help facilitate the SBA disaster loan application process, SBA representatives meet face-to-face with applicants at Disaster Recovery Centers (DRCs) in Milwaukee.

City of Milwaukee Dept.
of Public Works
3850 N. 35th St.
Milwaukee, Wis. 53216

Milwaukee Brotherhood of
Firefighters Association
7717 W. Good Hope Road
Milwaukee, Wis. 53223

The Disaster Recovery Centers in Milwaukee County remain open Monday through Saturday from 9 a.m. to 7 p.m. until further notice.

Experts are available to meet face-to-face with applicants at the DRC in Grant County.

Lancaster Fire Station
312 N. Washington St.
Lancaster, Wis. 53813

The Grant County DRC will be open every day from 9:00 a.m.-7:00 p.m., except for Sunday, Oct. 3. The DRC will no longer operate after 7:00 p.m. on Thursday, Oct. 7.    

SBA is the federal government's primary source of money for the long-term rebuilding of disaster-damaged private property. SBA helps homeowners, renters, businesses of all sizes, and private non-profit organizations fund repairs or rebuilding efforts, and cover the cost of replacing lost or disaster-damaged personal property. These disaster loans cover uninsured and uncompensated losses and do not duplicate benefits of other agencies or organizations. Additional information about SBA disaster loan applications is also available by calling the SBA helpline at 1-800-659-2955 or visiting the SBA online at www.SBA.gov.

Homeowners and renters who have not registered, or who have questions about their FEMA disaster assistance application, can also receive help at the DRC or by calling 800-621-FEMA (3362) or TTY 800-462-7585. Registration is also available at www.DisasterAssistance.gov.

FEMA's mission is to support our citizens and first responders to ensure that as a nation we work together to build, sustain, and improve our capability to prepare for, protect against, respond to, recover from, and mitigate all hazards.

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