JACKSON, MS. — If disaster survivors in Mississippi apply for assistance with the Federal Emergency Management Agency and are referred to the U.S. Small Business Administration, it’s important for them to submit a loan application to assure that the federal disaster recovery process continues and they keep their options open.
FEMA and SBA encourage homeowners, renters and businesses to apply for low-interest disaster loans to help fund their losses:
Many survivors who register with FEMA will be contacted by the SBA. Survivors need to choose the option to receive a disaster loan application packet from SBA.
Survivors can submit their SBA disaster loan applications one of three ways: online at https://DisasterLoan.SBA.gov/ela, in person at a disaster recovery center or by mail.
Survivors should complete and return the applications as soon as possible. Filing the loan application does not obligate people to accept an SBA loan. However, failure to complete and submit the home disaster loan application may stop the FEMA grant process. Homeowners and renters who submit an SBA application and are declined a loan may be considered for certain other FEMA grants and programs that could include assistance for disaster-related car repairs, clothing household items and other expenses.
Next to insurance, an SBA loan is the primary funding source for real estate property repairs and replacing lost contents following a disaster like a tornado or flooding. Homeowners may be eligible for low interest loans up to $200,000 for primary residence structural repairs or rebuilding.
SBA can help renters replace their essential items. Homeowners and renters may be eligible to borrow up to $40,000 to repair or replace personal property, including automobiles damaged or destroyed in the disaster.
Loans for businesses and private non-profit organizations are available up to $2 million to repair or replace disaster damaged real estate, and other business assets. Eligible small businesses and non-profits can apply for Economic Injury Disaster Loans (EIDL) to help meet working capital needs caused by the disaster.
Do not wait on an insurance settlement before returning an application. Insurance may not pay for all of the disaster-related damage. Survivors can begin their recovery immediately with an SBA disaster loan. The loan balance will be reduced by the insurance settlement.
For additional information about SBA low-interest disaster loans, contact the SBA Disaster Assistance Customer Service Center by calling 800-659-2955 or TTY 800-877-8339, emailing DisasterCustomerService@sba.gov or visiting sba.gov/disaster. SBA customer service representatives are available at ALL disaster recovery centers. Disaster recovery center locations can be found online at FEMA.gov/DRCLocator.
Disaster assistance may include money to help pay for temporary housing and essential home repairs. Low-interest SBA loans may also be available for losses not covered by insurance or other sources.
FEMA’s mission is to support our citizens and first responders to ensure that as a nation we work together to build, sustain, and improve our capability to prepare for, protect against, respond to, recover from, and mitigate all hazards.
Disaster recovery assistance is available without regard to race, color, religion, nationality, sex, age, disability, English proficiency or economic status. If you or someone you know has been discriminated against, call FEMA toll-free at 800-621-FEMA (3362). For TTY call 800-462-7585.
FEMA’s temporary housing assistance and grants for public transportation expenses, medical and dental expenses, and funeral and burial expenses do not require individuals to apply for an SBA loan. However, applicants who receive SBA loan applications must submit them to SBA loan officers to be eligible for assistance that covers personal property, vehicle repair or replacement, and moving and storage expenses.