After Calling To Apply, Return Sba Loan Packet
Release Date: September 16, 2004
Release Number: 1544-017
RICHMOND- In the aftermath of the flooding resulting from Tropical Depression Gaston, storm victims who have called 1-800-621-FEMA to apply for disaster assistance may receive a loan application packet from the U.S. Small Business Administration (SBA).
"It is important that you complete and return the SBA loan application to be eligible for additional disaster aid," said Federal Coordinating Officer Marianne C. Jackson. "SBA disaster loans are the government's primary form of long-term recovery assistance. If you do not qualify for a loan, you may be considered for a grant to cover temporary housing expenses, essential repairs or other serious unmet disaster-related needs. To receive either a loan or a grant, however, you must complete and return all forms in the SBA loan application packet."
FEMA disaster assistance covers basic needs only and normally will not compensate victims for all of their losses. If they have insurance, the government may help pay for basic needs not covered by insurance. Some disaster aid does not have to be paid back, while other assistance may come in the form of SBA loans.
These low-interest, long-term disaster loans are available to residents and businesses of all sizes in the declared areas affected by Gaston. More specific information on SBA loans and the application process is available by calling the SBA helpline at 1-800-659-2955 or visiting the SBA Website at www.SBA.gov/disaster.
The SBA can provide loans to homeowners, renters and business owners to help fund the repair or replacement of disaster losses. These loans are available at interest rates as low as 2.9 percent with terms extending to 30 years making them affordable for almost any budget. SBA representatives at local disaster recovery centers can also help with completion of loan application packet materials. Centers are located at: 730 E. Broad St. (Theatre Row Building) in Richmond; Dumbarton Library, 6800 Staples Mill Road in Henrico County; and, St. Augustine's Roman Catholic Church, 4400 Beulah Road, Chesterfield County.
"We urge area victims of Gaston to begin the process of getting help by calling 1-800-621-FEMA or TTY 1-800-462-7585. Then, if they get an SBA loan packet, they need to return the completed forms as soon as possible," Michael M. Cline, Virginia Department of Emergency Management coordinator, said. "The sooner you send back these completed forms, the sooner you'll find out if you qualify for assistance."
On March 1, 2003, FEMA became part of the U.S. Department of Homeland Security. FEMA's continuing mission within the new department is to lead the effort to prepare the nation for all hazards and effectively manage federal response and recovery efforts following any national incident. FEMA also initiates proactive mitigation activities, trains first responders and manages the National Flood Insurance Program and the U.S. Fire Administration.
Last Modified: Friday, 17-Sep-2004 09:03:13