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FACT SHEET: U.S. Small Business Administration Frequently Asked Questions

Release date: 
February 25, 2019
Release Number: 
FS 004

Q: Why am I, an individual, being referred to the U.S. Small Business Administration for my disaster-related losses in the Alaska earthquake?
A: Don’t let the name mislead you. During a declared disaster, SBA provides low-interest, long-term disaster loans to homeowners and renters who aren’t adequately insured as well as businesses of all sizes and private nonprofits.

Many applicants who register with the Federal Emergency Management Agency are also referred to the SBA during their registration for disaster assistance. If you meet the SBA income criteria, you must complete and return the loan application to ensure the federal disaster recovery process continues.

Q: How do I submit my SBA loan application?
A: You can meet with an SBA representative at a business recovery center or at any of the joint FEMA-state disaster recovery centers in designated disaster areas.

SBA Business Recovery Center
Eagle River/Chugiak Parks and Recreation
12001 Business Blvd., Room 170
Eagle River, AK  99577

Hours: Monday - Friday, 8 a.m. to 4 p.m.

FEMA Disaster Recovery Centers

Community Covenant Church
16123 Artillery Road
Eagle River, AK 99577

Hours: Monday to Saturday, 9 a.m. to 7 p.m.
Sunday, 10 a.m. to 2 p.m.

Christ First United Methodist Church
2635 S. Old Knik Rd.
Wasilla, AK 99654

Hours: Monday to Saturday, 9 a.m. to 7 p.m.
Sunday, 10 a.m. to 2 p.m.

Spenard Community Recreation Center
2020 West 48th Ave.
Anchorage, AK 99517

Hours: Monday to Friday, 10 a.m. to 7 p.m.
Saturday, noon to 7 p.m.
Sunday, noon to 4 p.m.

University of Alaska Annex
University Center Mall
3901 Old Seward Hwy.
Suite 153
Anchorage, AK 99503

Hours: Monday to Saturday, 9 a.m. to 7 p.m.
Sunday, 10 a.m. to 2 p.m.

You can also apply online at or by mail to:

U.S. Small Business Administration
Processing and Disbursement Center
14925 Kingsport Road

Fort Worth, TX  76155

Q: How does an SBA loan work with my homeowner’s insurance?
A: Do not wait on a settlement before submitting an SBA disaster loan application. SBA may be able to finalize the loan and get money to you before your insurance settles. The loan balance will then be reduced by the insurance settlement if you receive one. SBA disaster assistance may be available for losses not covered by insurance or other sources.

Q: Will I need to have another home inspection? FEMA and the state have already done inspections.
A: Yes. An SBA verifier will estimate the total physical loss to your disaster damaged property.

Q: How much can I borrow from SBA?
A: Homeowners can borrow up to $200,000 for primary residence structural repairs or rebuilding. Homeowners and renters may be able to borrow up to $40,000 to replace personal property including automobiles damaged or destroyed in the disaster. Businesses of any size may borrow up to $2 million to repair/replace disaster property damage. Small businesses, small businesses engaged in aquaculture and most private nonprofit organizations may also borrow to help meet disaster caused working capital needs. The $2 million maximum applies to the combination of property damage and working capital loans.

Q: What happens if I am denied a loan from SBA?
A:  If the applicant is denied a loan, FEMA’s Other Needs Assistance program, for items such as personal property (i.e., clothing, household items), moving and storage costs, and car repairs may be available. Certain items (i.e., chainsaws, dehumidifiers) may also qualify if they were purchased or rented to return a household to a safe, sanitary and functional state after the earthquake.

Q: What happens if I am approved for an SBA loan?
A:  If the applicant is approved by the SBA, the intent is for these low-interest, flexible loans to cover these additional needs and for repairs not covered by your FEMA assistance.

Q: What if I am approved for an SBA loan, but choose not to accept it?
A:  If you choose not to accept the SBA loan, you will not be eligible for further federal disaster assistance, but you may be referred to local voluntary agencies for assistance.

Regardless of SBA’s determination, applicants may be eligible for funding under FEMA’s Housing Assistance program including:

  • Temporary Housing Assistance – reimbursement for lodging or rental costs resulting from displacement due to the earthquake for up to 18 months or the program maximum.
  • Repair Assistance – grants for repairs to return a home to a safe, sanitary and functional state.
  • Replacement Assistance – a grant toward the purchase of a home if the primary residence was destroyed in the earthquake.

Also, regardless of SBA’s determination, applicants may be eligible for assistance with medical, dental, child care and/or funeral costs related to the Alaska earthquake.


Last Updated: 
February 25, 2019 - 16:20