Prompt Return Of SBA Loan Applications Speeds Disaster Aid
Release Date: August 7, 2006
Release Number: 1650-042
» More Information on New York Severe Storms and Flooding
ALBANY, N.Y. -- The Federal Emergency Management Agency joins the U.S. Small Business Administration (SBA) in urging New Yorkers who have applied for disaster aid to complete and return their loan applications promptly.
The sooner flood victims complete the application, the sooner decisions regarding federal aid can be made. Filling out the SBA application is a necessary step to being considered for some other forms of disaster assistance.
The SBA disaster loans are the primary source of long-term recovery aid. The loan application provides necessary information for determining the appropriate aid for each applicant. If the SBA is unable to approve a loan, the applicant may be automatically referred to other disaster aid programs.
"We are encouraging anyone who has received an SBA loan application to return it as soon as possible," said Marianne C. Jackson, federal coordinating officer. "Filling out the loan application does not obligate anyone to accept the loan."
The SBA low-interest disaster loans are available to qualified renters, property owners, non-profit organizations, and businesses of any size that suffered losses due to the disaster. These loans are designed for disaster victims not fully covered by insurance or without insurance.
To date, the SBA has approved more than $32 million in low-interest disaster loans for New Yorkers who suffered significant damage from the recent June flooding.
For more information, call the SBA at 1-800-659-2955 or visit the SBA web site at www.sba.gov/disaster.
FEMA manages federal response and recovery efforts following any national incident. FEMA also initiates mitigation activities, works with state and local emergency managers, and manages the National Flood Insurance Program. FEMA became part of the U.S. Department of Homeland Security on March 1, 2003.
Last Modified: Monday, 07-Aug-2006 09:07:57