SBA Disaster Forms Not Just For Businesses
Release Date: November 20, 2002
Release Number: 1439-15
» More Information on Texas Severe Storms, Tornadoes, and Flooding
Corpus Christi, TX -- In the aftermath of the tornadoes, severe storms and flooding that began on October 24, those who have registered for disaster assistance are finding that they have been issued a U. S. Small Business Administration (SBA) loan application.
These forms are sent to applicants (both individuals and business owners) who may or may not qualify for a loan. This form must be completed and returned before further assistance can be considered.
The SBA can provide loans to homeowners and renters, as well as businesses, to help pay for the repair or replacement of disaster losses. These loans are at low interest rates and long terms that make the loans affordable to almost any budget. The SBA can loan up to $200,000 to repair homes and up to $40,000 to replace disaster-damaged personal property. A maximum of $1.5 million is available for businesses.
"It is essential that you complete this application if you need financial assistance," said Federal Coordinating Officer Sandy Coachman. "The SBA loan is an important source of recovery funds. If you do not qualify for a loan, you may be considered for a grant from the Individuals and Households Program."
To receive either a loan or a grant, however, you must complete and return the SBA loan application if you received one. If you think you cannot afford a loan, you must still fill out the SBA loan application to be considered for a possible loan or additional grant programs. Help is available at Disaster Recovery Centers for those who need assistance in filling out the SBA loan packet.
Individuals who sustained disaster-related losses as a result of the October 24 tornadoes, severe storms and flooding must re-register for this disaster even though they may have received assistance for a previous disaster. Those who have not yet registered need to call 1-800-621-FEMA (3362), or TTY 1-800-462-7585 for the speech or hearing impaired. The registration lines are open from 8 a.m. to 6 p.m. seven days a week until further notice.
Last Modified: Monday, 21-Apr-2003 15:40:37