Less Than Two Weeks Remain to Return SBA Loan Applications

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Release date: 
July 28, 2011
Release Number: 
1974-114

NASHVILLE, Tenn. -- Survivors of the spring storms, tornadoes and flooding have less than two weeks to return disaster loan applications to the Small Business Administration.

Those who experienced damage or loss must return their completed application by Aug. 9.

Survivors are not required to borrow money. But if the SBA determines an applicant is not eligible for a low-interest loan, that individual may be referred back to the Federal Emergency Management Agency for possible additional grant assistance.

Some persons may not think they need a loan to cover disaster-related expenses, but additional costs can develop. Those expenses could come from:

  • Insurance failing to cover all repair or rebuilding costs;
  • Repairs cost more than initially estimated;
  • More damage is discovered.

For those interested in an SBA loan, call: 800-659-2955 or 800-877-8339 TTY. Applications can be downloaded from www.sba.gov, or go to the SBA secure website at disasterloan.sba.gov/ela.

Disaster recovery assistance is available without regard to race, color, religion, nationality, sex, age, disability, English proficiency or economic status. If you or someone you know has been discriminated against, call FEMA toll-free at 800-621-FEMA (3362). For TTY call 800-462-7585.

FEMA's housing assistance and Other Needs Assistance grants for medical, dental, and funeral expenses do not require individuals to apply for an SBA loan. However, applicants who receive SBA loan applications must submit them to SBA loan officers to be considered for assistance that covers personal property, vehicle repair or replacement, and moving and storage expenses. Applicants who do not qualify for a SBA loan may be eligible to receive Other Needs Assistance grants for these items.

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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