Keep Your Options Open – Submit an SBA Application Now

SACRAMENTO, Calif. – Wildfire survivors, don’t miss out on additional grants and loans that can help you recover – submit an application to the U.S. Small Business Administration today.

This notice applies to disaster survivors in Calaveras and Lake counties, California, who applied for assistance with the Federal Emergency Management Agency and were referred to the SBA. You must complete a disaster loan application in order to keep your options open and to maintain eligibility for additional FEMA dollars.

The deadline for submitting the application is Monday, Nov. 23 for wildfire losses that occurred between Sept. 9 and Oct. 30, 2015 in the two California counties. As long as the initial loan application is submitted by the deadline, survivors can finalize their preliminary SBA application and loan at a later date.

While SBA’s low-interest disaster loans represent the major source of federal funding for recovery, the application itself may open the door to other FEMA grant programs. People who do not qualify for an SBA loan may be eligible for other FEMA grants.

Here are some key points to consider:

• Completing and returning a loan application can be done in one of three ways: in person at a Disaster Recovery Center, online at https://disasterloan.sba.gov/ela or by mail.
• Filing the loan application does not obligate people to accept the loan and there is no cost to apply for an SBA loan. Homeowners and renters who are declined for an SBA disaster loan may be considered for certain FEMA grants and programs.
• Next to insurance, an SBA loan is the primary funding source for real estate property repairs and replacing lost contents following a disaster like the recent wildfires. Homeowners may be eligible for low-interest loans up to $200,000 for repair or replacement of their primary residents. In some instances, SBA can refinance all or part of an existing mortgage.

Keep Your Options Open – Submit an SBA Application Now

• The SBA can help homeowners and 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 a disaster.
• Loans are available for businesses of all sizes and private non-profit organizations. Loans are available for up to $2 million to repair or replace disaster damaged real estate and other business assets. Eligible small businesses and non-profits also can apply for Economic Injury Disaster Loans (EIDL) to help meet working capital needs caused by a disaster.
• Do not wait for an insurance settlement before applying. Insurance may not pay for all of the damage. Survivors can begin their recovery immediately with an SBA disaster loan. The eligible loan amount will be reduced by any insurance settlements.

For more information about SBA low-interest disaster loans, contact the SBA’s Customer Service Center at 800-659-2955, TTY 800-877-8339, emailing disastercustomerservice@sba.gov or at sba.gov/disaster. SBA customer service representatives are available at all disaster recovery centers. Centers can be found online at FEMA.gov/DRClocator.

Survivors can apply for FEMA assistance online at DisasterAssistance.gov or by calling 800-621-3362; TTY 800-462-7585; 711 or Video Relay Service (VRS), call 800-621-3362. Registration continues through Nov. 23.

For more information on California’s wildfire recovery, visit: caloes.ca.gov or fema.gov/disaster/4240 and follow us on Twitter @femaregion9 or on Facebook.com/FEMA, Twitter @Cal_OES and Facebook.com/CaliforniaOES.

The SBA is the federal government’s primary source of money for the long-term rebuilding of disaster-damaged private property. SBA helps businesses of all sizes, private non-profit organizations, homeowners and renters fund repairs or rebuilding efforts and cover the cost of replacing lost or disaster-damaged personal property. These disaster loans cover losses not fully compensated by insurance or other recoveries and do not duplicate benefits of other agencies or organizations. For more information, applicants may contact SBA’s Disaster Assistance Customer Service Center by calling 800-659-2955, emailing disastercustomerservice@sba.gov, or visiting SBA’s website at www.sba.gov/disaster. Deaf and hard-of-hearing individuals may call 800-877-8339.

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.

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