Completing SBA Loan Application is the Key to Full Iowa Disaster Assistance
Release Date: August 6, 2008
Release Number: 1763-138
» More Information on Iowa Severe Storms, Tornadoes, and Flooding
DES MOINES, Iowa -- Iowans with flood or tornado damage are urged to complete a U.S. Small Business Administration (SBA) loan application to ensure they avail themselves of the full range of disaster assistance.
Officials from the Rebuild Iowa Office (RIO) and the Federal Emergency Management Agency (FEMA) want Iowans to know that those who are told to fill out the SBA disaster loan application should do so because it may open the door for additional assistance.
These individuals may be eligible for assistance under the Other Needs Assistance (ONA) program that covers personal property, vehicle repair or replacement, and moving and storage expenses. The application should be completed in these cases, even if an individual does not believe he or she qualifies. Determination for this additional assistance cannot be made until the application is submitted; registrants should complete applications as soon as possible after receiving them.
Some homeowners and renters do not receive an SBA loan application; they are directed to the ONA program for grants for transportation expenses, medical and dental expenses, and funeral expenses.
Some other SBA loan application facts:
- Residents do not have to wait for an insurance settlement to apply.
- Completing the loan application does not obligate anyone to accept a loan.
- Temporary housing assistance does not require that an applicant file for an SBA loan.
- FEMA will process applications for housing assistance regardless of whether the applicant has applied for an SBA loan.
The SBA offers loans to cover damaged or destroyed real estate not fully compensated by insurance up to $200,000 for an owners primary residence and up to $40,000 for personal property for homeowners and renters. The SBA can also lend additional money for mitigation.
For assistance in filling out the application, call the SBA Customer Service Center at 800-659-2955, TTY 800-877-8339. Also, visit www.sba.gov/services/disasterassistance
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.
Last Modified: Thursday, 07-Aug-2008 12:02:44