SBA Disaster Loans Reach $100 Million In Alabama
In the nearly five months since the disaster, more than $78 million has been approved for 1,534 Alabama homeowners and nearly $21 million has been approved for 159 businesses in the state. Another $1.1 million in economic injury disaster loans has been approved to help businesses and some private, nonprofit organizations with operating funds.
“These loans are a great help in the rebuilding process in Alabama,” said Jeff Byard, state coordinating officer for the Alabama Emergency Management Agency.
Eligible homeowners were able to obtain loans up to $200,000 from the U.S. Small Business Administration to repair or replace real estate. Homeowners and renters were able to borrow up to $40,000 for personal property, including automobiles that were damaged in the tornadoes.
Eligible businesses could obtain loans up to $2 million to help with repairs, replacement of property, working capital and economic injury.
“FEMA assistance can help in the short term, but SBA loans are the largest source of federal disaster recovery funds,” said Joe M. Girot, federal coordinating officer for FEMA.
While recent disasters have caused FEMA to temporarily delay funding for some long-term projects, this does not affect individuals and households who still need FEMA assistance for immediate needs. Federal recovery funds continue flowing to individuals, families and businesses in Alabama.
Disaster loan applicants who have already applied and have questions may email the SBA at DisasterCustomerService@sba.gov or call the SBA Customer Service Center at 800-659-2955
(800-877-8339 for the deaf and hard-of-hearing).
SBA Disaster Loans Reach $100 Million In Alabama- Page 2
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.
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). If you have a speech disability or hearing loss and use a TTY, call 800-462-7585 directly; if you use 711 or Video Relay Service (VRS), call 800-621-3362.
The social media links provided are for reference only. FEMA does not endorse any non-government websites, companies or applications.
FEMA’s temporary housing assistance and grants for public transportation expenses, medical and dental expenses, and funeral and burial 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 eligible for assistance that covers personal property, vehicle repair or replacement, and moving and storage expenses.