Aug. 26 is Last Day to Apply For SBA Disaster Loans

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Release date: 
August 22, 2011
Release Number: 
1980-155

COLUMBIA, Mo. -- Aug. 26, 2011 is the last day to apply for a U.S. Small Business Administration low-interest disaster loan.

The Federal Emergency Management Agency urges Missourians who suffered damage or loss from the severe storms, tornadoes and flooding between April 19 and June 6, 2011, and received a disaster loan application from the SBA to complete and return the application by the Aug. 26 deadline.

Completing and returning the application is a critical step in the recovery process.

Many disaster survivors have received an SBA disaster assistance loan application in the mail. It is important to fill out the application and return it, even if you do not want a loan, because applying for SBA loans ensures disaster survivors are considered for the full range of disaster assistance that may be available to them.

If you do not qualify for an SBA disaster assistance loan, you will be referred back to FEMA and could receive additional grant money. If you are approved for an SBA loan, you are under no obligation to accept the loan, but approved applicants remain eligible for a loan for six months and can request to initiate the loan at any point within that time period. In some cases, you may also ask for an increase in your approved loan amount.

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.

In addition to being critical to long-term rebuilding, SBA disaster loans are easy to repay, with fixed, low-interest rates less than 3 percent for up to 30 years.

SBA disaster loan applications are available from Disaster Recovery Centers and online via SBA's secure website at disasterloan.sba.gov/ela. Before applying for an SBA disaster loan, you will need your Social Security number, insurance policy, copies of tax returns and financial statements.

To date, survivors of flooding, tornadoes and severe storms in Missouri have received more than $42.5 million in SBA loans for residents and businesses in counties that have been declared disaster areas. More than $31.2 million has been provided for residential and personal property losses and more than $11.3 million for business losses.

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. Businesses of any size and private, nonprofit organizations may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other business assets.

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.  Deaf or hard of hearing individuals may call 1-800-877‑8339.

The first step in the recovery process is registering with FEMA.

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 access or functional needs 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. Multilanguage 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 togethe...

Last Updated: 
July 16, 2012 - 18:46
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