SBA Disaster Loan Application Used to Check Eligibility for Other Grants

SAVANNAH, Ga. – Georgia disaster survivors who suffered damage or loss from Hurricane Matthew and were referred to the U.S. Small Business Administration could lose some income-based FEMA grants if they don’t complete and submit SBA’s loan application.

FEMA’s Other Needs Assistance grants may cover uninsured losses for furniture, appliances and other essential personal property, even vehicles. Survivors will not be considered for this type of assistance unless they complete and return the SBA loan application. The information on the application is used to determine eligibility for income-based assistance.

Disaster survivors in Bryan, Bulloch, Chatham, Effingham, Evans, Glynn, Liberty, Long, McIntosh and Wayne counties are encouraged to register with FEMA and, if referred, complete and submit an SBA loan application, even if they don’t want a loan. The application is used to check eligibility for additional grants.

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

Survivors should start the loan process as soon as possible, and those who qualify for an SBA loan are under no obligation to accept it.  If approved and the loan is not accepted, the survivor may be ineligible for additional federal assistance.

Submit an SBA loan application even if you are waiting for an insurance settlement. Survivors do not have to wait for an insurance settlement. A survivor’s insurance policy may not cover all the replacement, repair and rebuilding costs. A disaster loan is available to cover the difference.

To repair or help rebuild a primary residence, a homeowner may borrow up to $200,000 from SBA. Homeowners and renters may borrow up to $40,000 from SBA 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.

Damage from Hurricane Matthew must have occurred Oct. 4-15. Survivors can register with

FEMA the following ways:

• Online at DisasterAssistance.gov (also in Spanish)
• Download the FEMA mobile app (also in Spanish)
• Call the FEMA Helpline at 800-621-3362 (FEMA). Persons who are deaf, hard of hearing or have a speech disability and use a TTY may call 800-462-7585. The toll-free numbers are open daily from 7 a.m. to 11 p.m. Help is available in most languages, and information on the registration process is available in ASL at http://www.fema.gov/media-library/assets/videos/111546.

The filing deadline to return SBA loan applications for physical property damage is Dec. 16. The deadline to return economic injury applications is July 17, 2017.

For more information about SBA loans, call SBA’s disaster assistance customer service center at 800-659-2955, email disastercustomerservice@sba.gov or visit sba.gov/disaster. TTY users can call 800-877-8339.  Applicants may also apply online using the electronic loan application via SBA’s secure website at disasterloan.sba.gov/ela.

Disaster survivors may also visit any disaster recovery center where SBA customer service representatives can answer questions, help complete loan applications and close loans. For the nearest location go to asd.fema.gov/inter/locator/home.htm.

For updates on Georgia’s Hurricane Matthew response and recovery, follow @GeorgiaEMA and @FEMARegion4 on Twitter and visit gemhsa.ga.gov and fema.gov/disaster/4284. 

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