BILOXI, Miss. – After you apply for disaster assistance from FEMA, you may be referred to the U.S. Small Business Administration (SBA). If you are asked to submit an SBA disaster loan application, you should do so.
If your application is approved, you are not obligated to accept an SBA loan but failure to return the application may disqualify you from other possible FEMA assistance, such as disaster-related car repairs or replacement, essential household items and other expenses.
SBA loans are the largest source of federal disaster recovery funds for survivors. In planning your recovery, give yourself the widest possible set of options. Submitting the application makes it possible for you to be considered for additional grants, and if you qualify for a loan you will have that resource available if you choose to use it.
Businesses may borrow up to $2 million for any combination of property damage or working capital. Homeowners may borrow up to $200,000 from SBA to repair or replace their primary residence. Homeowners and renters may borrow up to $40,000 to repair or replace personal property.
For additional information about SBA disaster loans, the loan application process, or for help completing the SBA application, visit SBA’s secure website at sba.gov/disaster. Applicants may also call SBA’s Customer Service Center at 800-659-2955 or email email@example.com for more information on SBA disaster assistance. Individuals who are deaf or hard‑of‑hearing may call 800-877-8339.
The filing deadline to return applications for physical property damage is March 1, 2021. The deadline to return economic injury applications is Oct. 1, 2021.
For an American Sign Language video on reasons to submit an SBA disaster loan application, go online to https://www.youtube.com/watch?app=desktop&v=0pvfgBaA6_Q&feature=youtu.be.
For more information about Hurricane Zeta recovery in Mississippi, visit the FEMA disaster webpage at https://www.fema.gov/disaster/4576 or the Mississippi Emergency Management Agency webpage at https://www.msema.org/zeta/.