Prompt Return Of SBA Applications Speeds Aid
Release Date: October 6, 2004
Release Number: 1555-019
» More Information on Pennsylvania Severe Storms and Flooding associated with Tropical Depression Frances
» More Information on Pennsylvania Tropical Depression Ivan
HARRISBURG, Penn. -- Pennsylvania residents who have applied for disaster assistance and received loan applications from the U.S. Small Business Administration (SBA) are encouraged to complete and return them to SBA as soon as possible.
Many who register for assistance will receive an SBA loan application in the mail after registering. The completion of the application is a required step in obtaining disaster assistance.
“When an applicant is referred to the SBA, that part of the process needs to be completed before other aid options are considered,” said Federal Coordinating Officer Tom Davies. “Filling out an SBA application does not guarantee that an applicant will be approved for a loan, nor does it mean they must accept a loan.”
SBA loans are the primary source of disaster funds for making substantial repairs or rebuilding damaged structures to their pre-disaster condition. Actual loan amounts and terms are set by the SBA and are based on each applicant’s financial condition. Low-interest disaster loans are available to homeowners, renters, businesses of all sizes and nonprofit organizations. Loans are limited to $200,000 to repair or replace primary real estate and $40,000 to repair or replace personal property. The maximum loan for businesses is $1.5 million.
“Individuals who need help in completing their SBA application may visit the Disaster Recovery Centers located throughout the state to get personal assistance from SBA loan officers,” said David M. Sanko, state coordinating officer. Disaster Recovery Centers in Allegheny, Armstrong, Blair, Beaver, Dauphin, Lycoming, Luzerne, Northampton and Washington Counties will be open until October 15.
If the SBA determines that a homeowner or renter cannot afford a loan, SBA will automatically refer them to FEMA’s Other Needs Assistance program. This program is available only to individuals and families, not businesses. It is intended to help meet essential needs not met by any other form of assistance, including SBA disaster loans. Applicants must complete the SBA loan forms before they can be referred to the Other Needs Assistance program.
Applicants who have questions about their SBA forms can call 1-800-659-2955 or find SBA information on their website at www.sba.gov/disaster.
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: Wednesday, 06-Oct-2004 16:44:17