SBA Disaster Assistance Available Following June Storms, Flooding

August 23, 2012

Florida and Alabama residents and businesses affected by severe storms and flooding June 9-11, can apply for low-interest disaster loans from the U.S. Small Business Administration.

The loans were made available in response to a letter from the governor’s office requesting a disaster declaration by the SBA. The declaration covers Escambia County and the adjacent counties of Santa Rosa in Florida, Baldwin and Escambia in Alabama.

“The SBA is strongly committed to providing the people of Florida with the most effective and customer-focused response possible to assist homeowners, renters, and businesses of all sizes with federal disaster loans,” said SBA Administrator Karen G. Mills. “Getting businesses and communities up and running after a disaster is our highest priority at SBA.”

“Loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate.   Homeowners and renters are eligible for loans up to $40,000 to repair or replace damaged or destroyed personal property,” said Frank Skaggs, director of SBA’s Field Operations Center East in Atlanta.  SBA’s customer service representatives are on hand at the Disaster Loan Outreach Center to answer questions about the disaster loan program, explain the process, issue and help individuals complete their applications.

The Disaster Loan Outreach Center is open weekday until August 30 and Saturday, August 25 at the  Small Business Development Center, 401 East Chase Street in Pensacola.

Businesses and non-profit organizations of any size may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory, and other business assets,” said Wilfredo Gonzalez, SBA’s Jacksonville district director.

The SBA may increase a loan up to 20 percent of the total amount of disaster damage to real estate and/or leasehold improvements, as verified by SBA, to make improvements that lessen the risk of property damage by future disasters of the same kind.

For small businesses, small agricultural cooperatives, small aquaculture businesses and most private nonprofit organizations of all sizes, the SBA offers Economic Injury Disaster Loans (EIDLs) to help meet working capital needs caused by the disaster.  EIDL assistance is available regardless of whether the business suffered any physical property damage.

Interest rates are as low as 1.938 percent for homeowners and renters, 3 percent for non-profit organizations and 4 percent for businesses with terms up to 30 years.  Loan amounts and terms are set by the SBA and are based on each applicant’s financial condition.

Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at https://disasterloan.sba.gov/ela.

Individuals and businesses unable to visit the Center may also obtain information and loan applications by calling the SBA’s Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the deaf and hard-of-hearing), or by sending an email to disastercustomerservice@sba.gov. Loan applications can also be downloaded from the SBA’s website at www.sba.gov. Completed applications should be returned to the Center or mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

The filing deadline to return applications for physical property damage is October 22, 2012.  The deadline to return economic injury applications is May 21, 2013.

Comments

One Response to “SBA Disaster Assistance Available Following June Storms, Flooding”

  1. Joslyn on September 1st, 2012 5:23 am

    As a single mother homeowner suffered over 30k damage with this June flood and just coming off of unemployment. my income even on unemployment is under low income at 1100.00 per month. ABA denied my request for assistance due to inability to repay a loan. Requested 30k for personal loss from the loss of use of my home to all of my family’s belongings which were under 3ft of contaminated water. So I ask…where is the relief for the low to below low income unemployed, disabled home owners who are not qualifying for this SBA loan due to Florida’s payment guidelines for unemployed, disability, afdc recipients? When or where is FEMA when your home is located in a female special flood zone since Ivan? Can we please get some real help out here? How about some of that 100 million escambia county just got from female for Ivan. What was that for? Garbage disposal? Come on….where is the local help for the victims who have lost their homes and belongings because Navy fedederal decided to direct all that drainage water to the south side of the road which flooded blue angel and 98. Answers and some action is needed here on a local level for people
    like me.

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