SBA Disaster Assistance Loan Application: Key to FEMA Awards

ANCHORAGE, Alaska – Disaster assistance applicants referred to the U.S. Small Business Administration (SBA) who do not complete and submit the companion SBA disaster assistance loan application may be jeopardizing eligibility for other types of assistance.

In addition to businesses, homeowners, renters, and private, nonprofit organizations may be eligible for low interest home repair loans. The loans can be used to cover the costs of repair or replacement of damaged real estate, personal property and business assets not covered by insurance or other aid.

It’s essential for everyone in the Regional Educational Attendance Areas (REAAs) of Alaska Gateway, Lower Yukon, Yukon Flats, and Yukon-Koyukuk with damage from the 2013 Spring Flood to register with the Federal Emergency Management Agency (FEMA) and, if referred, apply for the SBA disaster loan. Small businesses and private, non-profit organizations in contiguous REAAs are eligible to apply for Economic Injury Disaster Loans.

Here are some important facts about the SBA loan application:

• August 26, 2013, is the last day you can register with FEMA and apply for an SBA disaster loan for physical damage.
• March 25, 2014, is the last day a business or private, non-profit organization may apply for an Economic Injury Disaster Loan.
• You don’t have to accept the loan if you qualify for one.
• If you don’t qualify, you could be eligible for more assistance from FEMA and other organizations.
• You don’t have to apply for the SBA disaster loan to qualify for FEMA awards for disaster related medical, dental, and funeral expenses.
• SBA personnel will help you fill out the disaster loan application for free!
• Complete the SBA application and return it as soon as possible.

There are three ways for survivors of the flooding that occured between May 17 and June 11, 2013, to apply for an SBA disaster loan:  After registering with FEMA, go online to SBA’s secure site at https://disasterloan.sba.gov/ela; call 1-800-659-2955 (deaf and hard-of-hearing call 1-800-877-8339); or visit the Disaster Recovery Center for one-on-one service. For more information on SBA disaster assistance, go to www.sba.gov.