SBA Loan Applications Help Determine Eligibility
Release Date: October 10, 2003
Release Number: 1492-43
» More Information on Maryland Hurricane Isabel
BALTIMORE -- The U.S Small Business Administration (SBA) can help eligible homeowners, renters and business owners get back on their feet after disasters like Hurricane Isabel by providing low-interest disaster loans.
The first step in the recovery process is to register with the U.S. Department of Homeland Security's Federal Emergency Management Agency (FEMA) to be considered for any kind of federal disaster assistance. Call 1-800-621-FEMA (3362) or TTY 1-800-462-7585 to register. A FEMA representative will explain the programs for which you may be eligible and review the steps you need to take in the application process. The deadline for registration is November 18.
Once you are registered with FEMA, an SBA disaster-loan application packet may be mailed to you. You should complete the SBA application even if insurance settlements have not arrived. Filing an application does not bind you to a loan, but it does get you into the system more quickly and gives you one more recovery option.
Loan applications also are available via SBA's website at www.sba.gov/disaster. The SBA application must be completed and returned before a loan can be considered. If SBA determines that you do not qualify for a loan, you still may be considered for other forms of federal disaster 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 Citizen Corps, the National Flood Insurance Program and the U.S. Fire Administration.
Last Modified: Tuesday, 14-Oct-2003 07:53:11