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Failure to fill out the SBA disaster loan application can put those impacted by Tropical Storm Fay at risk of stopping the disaster assistance process in its tracks.
According to the Federal Emergency Management Agency (FEMA) and the Florida Division of Emergency Management, when an applicant is referred to the SBA, a loan application has to be completed before some types of federal aid options can beconsidered.
Filling out an SBA application does not guarantee that an applicant will be approved for a loan, nor does it mean they must accept a loan if they are approved. However, if a home loan application is declined, their case will be referred back toFEMA's grant programs.
FEMA disaster assistance covers only basic needs and will not normally compensate you for your entire loss. If you have insurance, the disaster assistance may help pay for basic needs not covered under your insurance policy.
Homeowners, renters and business owners in any of the 10 federally declared counties - Brevard, Duval, Hendry, Lee, Leon, Okeechobee, Seminole, St. Lucie, Volusia and Wakulla - are urged to visit a Disaster Recovery Center if they have questions orwant to learn more about the SBA program.
SBA customer representatives at the centers will also be able to assist in filling out required paperwork.
Disaster loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for up to $40,000 to repair or replace damaged or destroyed personal property. Businesses of anysize and private non-profit organizations may borrow up to $2.5 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other business assets.
The SBA offers Economic Injury Disaster Loans (EIDLs) for small businesses to help meet working capital needs caused by the disaster. EIDL assistance is available regardless of whether the business suffered any property damage. Interest rates are aslow as 2.85 percent for homeowners and renters, and 4 percent for businesses, with terms up to 30 years. Loan amounts and terms are set by the SBA and are based upon each applicant's financial condition.
Anyone unable to visit the center, who has registered with FEMA, can obtain an application by calling the SBA's Customer Service Center at 800-659-2955 or 800-877-8339 for the hearing-impaired Monday through Friday from 8 a.m. to 8 p.m. EDT. Business loan applications can also be downloaded from www.sba.gov. Completed applications should be returned to the center or mailed to the U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX, 76155.
Anyone from the ten declared counties suffering loss or damages by the high winds and local flooding from Tropical Storm Fay August 16, and has not yet registered for assistance, should call FEMA's toll-free registration number at (800)621-3362 (FEMA). Or, for the hearing- and speech-impaired, call TTY (800) 462-7585 and apply. Multilingual operators are available. The toll-free telephone numbers will operate 7 a.m. to midnight daily until further notice.Application for disaster assistance can also be made by registering online at www.fema.gov.
FEMA coordinates the federal government's role in preparing for, preventing, mitigating the effects of, responding to, and recovering from all domestic disasters, whether natural or man-made, including acts of terror.
Disaster recovery assistance is available without regard to race, color, sex, religion, national origin, age, disability, economic status or retaliation. If you or someone you know has been discriminated against, you should call FEMA toll-free at800-621-FEMA (3362) or contact your State Office of Equal Rights. If suspicious of any abuse of FEMA programs, please contact the fraud hotline at 800-323-8603.
SBA's disaster loans are the primary form of federal assistance for non-farm, private sector disaster losses. Disaster loans from SBA helps homeowners, renters, businesses of all sizes and nonprofit organizations fund repair and replacement ofdisaster damaged real and personal property. These disaster loans cover uninsured and uncompensated losses and do not duplicate benefits of other agencies or organizations. For information about SBA programs, applicants may call 800-659-2955 orvisit online at www.sba.gov or email SBA's customer service center at disastercustomerservice@sba.gov.
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