Louisiana Disaster Survivors May Find An SBA Loan Is the Key To Their Recovery

BATON ROUGE, La. –If you are one of the Louisiana flood and storm survivors referred to the U.S. Small Business Administration (SBA), it’s important to complete and submit the loan application you receive to ensure that your disaster recovery process continues to move forward.

Survivors should complete and return the applications as soon as possible. If you complete and submit the SBA disaster loan application, but do not qualify, it may open the door to other FEMA grants. Homeowners and renters who submit an SBA application, but who are not offered a loan may be considered for FEMA’s Other Needs Assistance program.  

The Other Needs Assistance program helps meet essential needs like medical and dental care, funeral costs and transportation expenses. By not submitting the SBA loan application, disaster survivors may be leaving “money on the table” as applying for the loan ensures consideration for Other Needs Assistance if the loan is not granted.

The SBA is the federal government’s primary source of money for the long-term rebuilding of disaster-damaged private property, offering low-interest disaster assistance loans to businesses of all sizes, private nonprofit organizations, homeowners and renters.

Submit an SBA loan application even if you are waiting for an insurance settlement.  You may be able to begin your recovery immediately with a low-interest SBA disaster loan. The loan balance will be reduced by the settlement from your insurance. SBA loans may also be available for losses not covered by insurance or other recoveries.

Homeowners may borrow up to $200,000 to repair or replace their primary residence.
Homeowners and renters may borrow up to $40,000 to replace personal property.
Businesses may borrow up to $2 million for any combination of property damage or economic injury.

• SBA offers low-interest working capital loans (called Economic Injury Disaster Loans) to small businesses and most private nonprofit organizations of all sizes having difficulty meeting obligations as a result of the disaster.

Survivors should start the loan process as soon as possible.

Survivors who qualify for an SBA loan are under no obligation to accept it.

Survivors can submit their SBA loan application online at https://DisasterLoan.SBA.gov/ela, visiting their nearest Disaster Recovery Center (DRC) or by mailing their paper application to:

U.S. Small Business Administration
Processing and Disbursement Center
14925 Kingsport Road
Ft. Worth, TX 76155-2243

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 sba.gov/disaster. Deaf and hard-of-hearing individuals may call (800)877-8339.

Survivors who haven’t yet registered with FEMA can do so online at DisasterAssistance.gov or by calling FEMA’s helpline at 800-621-3362, which is video relay service accessible. Survivors who are deaf, hard of hearing or who have difficulty speaking may call TTY 800-462-7585.

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We urge everyone to continue to use caution in areas where floodwaters remain. Monitor DOTD’s www.511la.org website for updated road closure information. Look for advisories from your local authorities and emergency managers. You can find the latest information on the state’s response at www.emergency.la.gov.

GOHSEP also provides information on Facebook and Twitter. You can receive emergency alerts on most smartphones and tablets by downloading the new Alert FM App.  It is free for basic service.  You can also download the Louisiana Emergency Preparedness Guide and find other information at www.getagameplan.org.

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 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.  Follow us on Twitter at https://twitter.com/femaregion6 and the FEMA Blog at http://blog.fema.gov.

The U.S. Small Business Administration (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 Web site at www.sba.gov/disaster. Deaf and hard-of-hearing individuals may call (800)877-8339.

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