SBA Loan Packets Essential to Disaster Aid
Release Date: April 12, 2006
Release Number: 1634-005
» More Information on Tennessee Severe Storms and Tornadoes
JACKSON, TENN. -- Tennessee residents who have registered for tornado disaster assistance will receive loan packets in the mail from the U.S. Small Business Administration (SBA) that must be returned in order to receive assistance.
Information provided in the loan application allows the Federal Emergency Management Agency (FEMA) to determine the type of assistance an applicant is eligible to receive. Applicants are not required to take an SBA loan.
Even those who were insured for their damage should nevertheless register and return the SBA packet so the eligibility determination can be made and they are prepared if unexpected damage surfaces after the insurance claim has been paid.
The SBA provides low-interest loans to help homeowners, renters, businesses of all sizes and nonprofit organizations to cover the cost of repairing or replacing lost or damaged structures and personal property.
The deadline to apply for a loan for physical damage to homes or businesses is June 6. Small business owners can apply for economic injury disaster loans until Jan. 5, 2007.
Residents who have registered are invited to visit a disaster recovery center to check the status of their applications and get answer to questions. They can also put questions to the FEMA registration and Helpline, 1-800-621-FEMA (3362).
The TTY number is 1-800-462-7585 for those with speech or hearing difficulties.
Last Modified: Thursday, 13-Apr-2006 08:43:42