Key to Rebuilding Missouri is Low-Interest Disaster Loans

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Release date: 
July 18, 2011
Release Number: 
1980-119

COLUMBIA, Mo. -- Missourians who suffered damage or loss from the severe storms, tornadoes and flooding and received a disaster loan application from the U.S. Small Business Administration (SBA) are urged to complete and return the application by the July 29, 2011 deadline.

Doing so will ensure the applicants are considered for the full range of disaster assistance that may be available to them.

SBA serves as 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 nonprofit organizations fund repair or rebuilding efforts and cover the cost of replacing lost or disaster-damaged personal property.

SBA can offer loans up to $200,000 to repair or replace real estate, and $40,000 to repair or replace personal property damages, including automobiles. The interest rate of disaster loans for homeowners and renters may be as low as 2.688 percent, with terms up to 30 years. This makes repayment affordable. Business loans can be obtained up to $2 million.

Survivors of flooding, tornadoes and severe storms in Missouri have received more than $28 million in SBA loans for residents and businesses in counties that have been declared disaster areas. More than $22 million has been provided for residential and personal property losses and in excess of $5 million for business losses.

The SBA can help homeowners, renters and businesses:

  • Replace damaged homes and businesses
  • Replace clothes, furniture and vehicles
  • Replace inventory, machinery and equipment for businesses and certain nonprofits
  • Provide working capital for small businesses and private non-profits

Survivors are urged to complete and return the low-interest disaster loan application they received after registering with FEMA. Applications are available from Disaster Recovery Centers and online. Online help for completing your SBA loan application is also available.

Typical information required includes Social Security Numbers for all applicants, your insurance policy, copies of tax returns and financial statements.

For more information, contact SBA's Disaster Assistance Customer Service Center by calling
1-800-659‑2955, emailing disastercustomerservice@sba.gov, or visiting SBA's Web site at www.sba.gov. Hearing impaired individuals may call 1-800-877‑8339. Applicants may also apply online using the Electronic Loan Application (ELA) via SBA's secure Web site at disasterloan.sba.gov/ela.

Registering with FEMA is easy.

Registration may be completed online at www.DisasterAssistance.gov, by Smartphone through m.FEMA.gov, or by calling FEMA's toll-free registration line at 1-800-621-FEMA (3362). If the applicant has a speech disability or hearing loss and uses a TTY, call 1-800-462-7585 directly; if the applicant uses 711 or Video Relay Service (VRS), call 1-800-621-3362. Multi-language assistance is available. Telephone registration is available daily from 7 a.m. to 10 p.m., until further notice.

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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