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A U.S. Small Business Administration loan can be smart business

CHARLESTON, W.Va. – If you are a disaster survivor in West Virginia you may not know you can get help from the U.S. Small Business Administration (SBA) that could lead to a smarter, faster recovery for businesses, homeowners, renters or private nonprofits.

The first step is to register with the Federal Emergency Management Agency (FEMA). Once you have done that, both FEMA and SBA encourage you to apply for a low-interest disaster SBA loan to help fund your recovery and to ensure the federal disaster recovery process continues.

An SBA low-interest disaster loan is a primary source of funds for real estate property repairs and for replacing contents destroyed in the severe storms, flooding, landslides, and mudslides that occurred June 22-29.

Physical Damage Disaster Loans

Businesses and private nonprofit organizations of any size may borrow up to $2 million to repair or replace disaster damaged or destroyed real estate, machinery and equipment, inventory and other business assets.

If your SBA loan application is approved, you may be eligible to borrow additional funds to cover the cost of improvements that will protect your property against future damage. Examples

include elevating utilities, water heaters and furnaces, and installing retaining walls and sump pumps. Applicants may be eligible for an SBA loan increase, for mitigation purposes, of up to 20 percent of their physical damage.

Interest rates are as low as 4 percent for businesses and 2.625 percent for nonprofit organizations, with terms up to 30 years. Loan amounts and terms are set by the SBA and are based on each applicant’s financial condition.

Economic Injury Disaster Loans

SBA also offers a working capital loan to relieve the economic injury caused by the disaster. A disaster loan is available to eligible businesses as well as private nonprofits even if the property was not damaged by the June storms.

These loans are for small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and certain private nonprofit organizations of all sizes to cover unpaid bills and lost business due to the disaster. Economic Injury Disaster Loans are available in amounts up to $2 million. The total of both physical damage and economic injury loans cannot exceed $2 million.

Eligible counties for both Physical and Economic Injury Disaster Loans

The disaster declaration covers the counties of Clay, Fayette, Greenbrier, Jackson, Kanawha, Lincoln, Monroe, Nicholas, Pocahontas, Roane, Summers and Webster in West Virginia, which are eligible for both Physical and Economic Injury Disaster Loans from the SBA.

Eligible counties for Economic Injury Disaster Loans only

Small businesses and most private nonprofit organizations in the following adjacent counties are eligible to apply only for SBA Economic Injury Disaster Loans: Boone, Braxton, Cabell, Calhoun, Lewis, Mercer, Logan, Mason, Mingo, Pendleton, Putnam, Raleigh, Randolph, Upshur, Wayne, Wirt and Wood in West Virginia; Alleghany, Bath, Craig and Giles and Highland in Virginia; and Meigs in Ohio.

Deferred Disaster Loan payments

The first payment for a disaster loan is due five months from the date of the SBA note.

Deadlines

The deadline to apply for an SBA Physical Damage loan is Aug. 24, 2016.

The deadline to apply for an SBA Economic Injury Disaster loan is March 27, 2017.

You can submit your SBA disaster loan application in one of three ways: online at https://disasterloan.sba.gov/ela/; in person at a Disaster Recovery Center (DRC); or by mail. SBA has staff at all DRCs to provide one-on-one assistance to businesses of all sizes, homeowners and renters in submitting their application.

Do not wait for an insurance settlement before submitting an SBA loan application. You can begin your recovery immediately with a low-interest SBA disaster loan. The loan balance will be reduced by the insurance settlement if you receive one. SBA loans may be available for losses not covered by insurance or other sources.

Remember, you don’t have to accept the loan if you qualify for one.

SBA Disaster Business Recovery Centers (BRCs) help businesses get back on their feet from damage they sustained during the storms. The BRCs are a resource where businesses can meet face-to-face with SBA representatives to learn how a low-interest disaster loan can help them recover. The BRCs are located in Greenbrier, Kanawha and Nicholas counties. To locate a DRC or an SBA BRC, call the SBA Customer Service Center at 800-659-2955.

If you have not registered with FEMA:

You can apply by calling the FEMA Helpline at 800-621-3362 or (TTY) 800-462-7585. If you use 711-Relay or Video Relay Services, you should call 800-621-3362. Operators are multilingual and calls are answered from 7 a.m. to 10 p.m. local time seven days a week; or
You can go online at www.DisasterAssistance.gov; or
You can visit a DRC.

Additional information on West Virginia’s disaster recovery can be found by calling the FEMA Helpline 800-621-3362 or visiting: www.DisasterAssistance.gov; the flood pages at www.WVflood.com; fema.gov/disaster/4273; twitter.com/femaregion3; and fema.gov/blog.

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A U.S. Small Business Administration loan can be smart business

Free Legal Services for Arkansas Disaster Survivors

Little Rock, Ark. – Besides the physical, emotional and mental challenges they pose, disasters such as the April 27 severe storms, tornadoes and floods may leave some survivors with legal issues. Arkansans who need help with storm-related legal issues but can’t afford a lawyer may find one for free. If you’re in this situation or know someone who is, this is what you need to know:

How to request free legal help:

To request a lawyer, call 844-344-7904 toll free.
The phone is staffed between 9 a.m. and 5 p.m. Monday through Friday.
Messages can be left at any time.
Callers should state they are seeking disaster-related legal assistance.
Those who qualify for the free service will be matched with Arkansas lawyers who have volunteered to help.
All calls are completely confidential.

Types of legal assistance include:

Assistance with insurance claims—life, medical, property, etc.
Help with replacing legal papers such as wills
Advice on problems with landlords
Counseling on mortgage-foreclosure problems
Help with home repair contracts and contractors or with building permits

This program is for survivors in the counties designated for federal disaster assistance to individuals:Faulkner, Pulaski, Randolph and White.

Disaster Legal Services are provided through a partnership among the Arkansas Bar Association, the American Bar Association and the Federal Emergency Management Agency, which funds some of the administrative costs.

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.

The Arkansas Department of Emergency Management (ADEM) is the state’s homeland security and preparedness agency. The agency works to identify and lessen the effects of emergencies, disasters and threats to Arkansas by developing effective prevention, preparedness, mitigation, response and recovery actions for all disasters and emergencies. For additional information, contact ADEM at (501) 683-6700 or visit the website at www.adem.arkansas.gov.

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 http://twitter.com/#!/femaregion6, the R6 Hurricane Preparedness website at www.fema.gov/about/regions/regionvi/updates.shtm and the FEMA Blog at http://blog.fema.gov.

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Free Legal Services for Arkansas Disaster Survivors

Keep In Touch With Seniors After Hurricane Sandy

TRENTON, N.J. — As recovery efforts continue in New Jersey through the holiday season, it is important that residents keep in touch with their elderly relatives, friends and neighbors, or anyone they may know with a disability or access and functional need.

Seniors or individuals with special needs previously living on their own may be dependent on others for food, shelter or the basic necessities of daily living. Those used to assisted living may face disruptions in their normal routines or a change in their usual caregivers.

Here are some simple ways to help:

Arrange weekly or bi-weekly visits.
Schedule a regular day when you can call to check in.
Assist them in recovering their physical possessions.
Help them return to familiar surroundings with friends and acquaintances as soon as possible.
Make sure they have needed medical and financial assistance.
Help them re-establish social networks.
Monitor their nutritional and medicinal needs.
If you do not live close, ask a neighbor of theirs to look in on them; make sure they have your up-to-date contact information.

Individuals with access or functional needs may include those who are non-English speakers or have limited English proficiency, those with special dietary needs or medical conditions, those who are deaf or hard of hearing and those who are visually or mobility impaired.

Seniors and other survivors can register with FEMA at www.DisasterAssistance.gov or by smartphone at m.fema.gov. Survivors may also call 800-621-FEMA (3362) or TTY 800-462-7585. For 711 Relay or Video Relay Services, call 800-621-3362.

To contact the Area Agency on Aging in your county, visit www.state.nj.us/health/senior/sa_aaa.shtml or call the nationwide toll-free number at 877-222-3737. Anyone seeking mental health services can call the toll-free disaster mental health helpline at 877-294-HELP (4357) or TTY 877-294-4356.

Garden State residents can also call the New Jersey 2-1-1 hotline for more information on state, local and voluntary organizations in the area that may help with specific unmet needs.

Follow FEMA online at www.fema.gov/blog, www.twitter.com/fema, www.facebook.com/fema, and www.youtube.com/fema. Also, follow Administrator Craig Fugate’s activities at www.twitter.com/craigatfema.

The social media links provided are for reference only. FEMA does not endorse any non-government websites, companies or applications.

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Keep In Touch With Seniors After Hurricane Sandy

Guard Against Future Damage with Home Elevations; FEMA Can Help

WINDSOR, Conn. — Hurricane Sandy survivors along Connecticut’s coast are asking an important question: How can I protect my home from future flooding?

One of the most effective methods is for them to elevate their home.

“Elevation may be one of the best ways to protect your home, your family and your possessions,” said FEMA Federal Coordinating Officer Albert Lewis. “Home elevation isn’t simple or cheap, but it is extremely effective.”

The advantages of elevating homes include:

Reducing the flood risk to the house and its contents;
Eliminating the need to move vulnerable contents to areas above the water level during a flood;
Reducing the physical, financial and emotional strain that accompanies floods;
Providing additional parking and storage space at home; and
Decreasing flood insurance premiums by reducing the risk to a property.

Through the National Flood Insurance Program, local communities enact and enforce floodplain management regulations. Flood survivors should check on local code requirements before repairing or elevating their homes.

To get an idea of how home elevations are accomplished, view the following videos on FEMA’s website:

www.fema.gov/medialibrary/media_records/1849

www.fema.gov/medialibrary/media_records/2281

Related online FEMA publications include:

“Above the Flood: Elevating Your Flood Prone House” www.fema.gov/library/viewRecord.do?fromSearch=fromsearch&id=1424

“Protecting Your Home and Property from Flood Damage” www.fema.gov/library/viewRecord.do?fromSearch=fromsearch&id=4654

Homeowners also can get technical assistance by calling FEMA’s building science helpline at 866-927-2104 or submitting questions by email to FEMA-Buildingsciencehelp@dhs.gov.

Guard Against Future Damage with Home Elevations; FEMA Can Help

December 31 Deadline For SBA Disaster Business Physical Loss Loans

TRENTON, N.J. — Time is running out for business owners with property damage due to Hurricane Sandy to apply for Business Disaster Loans from the U.S. Small Business Administration (SBA). The deadline to apply for loans covering physical losses is December 31, 2012.

Business Physical Disaster Loans are made to businesses to repair or replace disaster-damaged property owned by the business. This includes real estate, inventories, supplies, machinery and equipment. Businesses of any size are eligible, as are private non-profit organizations such as charities, churches, private universities, etc.

The SBA also administers the Economic Injury Disaster Loan (EIDL) program. Economic injury disaster loans may be used to pay fixed debts, payroll, accounts payable, and other bills that could have been paid if the disaster had not occurred. The loans are not intended to replace lost sales or profits.

Federal law limits business loans to $2 million for the combined physical and economic injury, mitigation and refinancing.

Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at DisasterLoan.sba.gov/ela.

SBA customer service representatives are available at all Disaster Recovery Centers (DRCs) throughout the state and at the following ten Business Disaster Recovery Centers (BRCs):

Richard Stockton College, 35 S. Martin Luther King Blvd., Atlantic City, NJ 08401

Bergen Community College, 355 Main St., Room 121, Hackensack, NJ 07601
Cape May County Chamber of Commerce, 13 Crest Haven Rd. Cape May, NJ 08210
Rutgers University, 25 James Street, Newark, NJ 07102
N.J. City University, 285 West Side Avenue, Suites 189-191, Jersey City, NJ 07305
John F. Kennedy Library, 500 Hoes Lane, Piscataway, NJ 08854
Brookdale Community College, 765 Newman Springs Rd., Lincroft, NJ 07738
So. Ocean County Chamber of Commerce, West Bay Ave., Manahawkin, NJ 08050
William Paterson University, 131 Ellison St., Paterson, NJ 07505
Kean University, Business One-Stop-Service, The Incubator, 320 Park Ave. Plainfield, NJ 07060

These locations may change. Disaster Recovery Center locations can be found online at fema.gov/DRC.

Registration with FEMA is not mandatory to apply for an SBA Business Disaster Loan, but it is preferred. For additional information, contact SBA’s Disaster Assistance Customer Service Center by calling 800-659-2855 or TTY 800-877-8339, emailing disastercustomerservice@sba.gov or visiting sba.gov.

Follow FEMA online at www.fema.gov/blog, www.twitter.com/fema, www.facebook.com/fema, and www.youtube.com/fema. Also, follow Administrator Craig Fugate’s activities at www.twitter.com/craigatfema.

The social media links provided are for reference only. FEMA does not endorse any non-government websites, companies or applications.

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December 31 Deadline For SBA Disaster Business Physical Loss Loans

Businesses, Nonprofit Organizations Get Smart About Low-Interest Disaster Loans

WINDSOR, Conn. — Businesses and nonprofit organizations are discovering a low-interest disaster loan from the U.S. Small Business Administration is a smart business decision.

Disaster loans provide funding for private sector recovery and are being used to:

Repair or replace buildings and business assets, such as equipment and inventory;
Meet payroll and lease obligations during business downtime caused by the disaster;
Refinance existing liens; and
Make improvements to protect against future damage.

“Disaster loans from the SBA are the major source of federal disaster recovery assistance,” said Federal Coordinating Officer Albert Lewis of the Federal Emergency Management Agency. “The interest rates are low—as low as 4 percent for businesses and 3 percent for nonprofits.”

SBA offers businesses and nonprofits two types of disaster loans: a Physical Disaster Loan and an Economic Injury Disaster Loan.

Physical Disaster Loans are used to repair or replace damaged buildings and business assets. Economic Injury Disaster Loans help small businesses, small agricultural cooperatives, aquaculture businesses and most private nonprofits meet financial obligations that they cannot meet because of the disaster.

Business owners may also be eligible to refinance existing liens or mortgages.

Applications from the SBA are mailed to most survivors who register for assistance with FEMA. No one is obligated to accept a loan if offered.

SBA low-interest disaster loans for businesses have several advantages:

SBA requires no collateral for physical loans less than $14,000 or economic injury loans less than $5,000. SBA requires the borrower to pledge as collateral only what is available, plus satisfactory credit and the ability to repay.

Applicants don’t have to wait for insurance settlements to obtain loans.

Loans are written for a length of time appropriate to the type of loan, but SBA may make adjustments in the length to lower the monthly payments.

SBA offers mitigation loans to help pay for improvements to reduce potential for future damage. These mitigation funds are available for up to 20 percent of the total amount of disaster damage.

SBA never charges an application fee or points for its disaster loans.

By law, SBA business loans cannot exceed $2 million. If a business is a major employer, SBA may waive the limit.

The deadline to file for a Physical Damage Disaster Loan is Dec. 31. The deadline for an Economic Injury Disaster Loan is July 31, 2013.

No one is obligated to accept a loan if approved. SBA gives applicants six months to decide whether to accept a loan.

SBA has opened a Business Recovery Center in Fairfield County at the Fairfield County SCORE office, 111 East Ave., Norwalk, CT 06851. The center is staffed from 9 a.m. to 5:30 p.m., Monday through Friday.

The SBA offers online an application through its Electronic Loan Application site at https://DisasterLoan.SBA.gov/ela. Survivors can call the SBA’s Disaster Assistance Customer Service Center at 800-659-2955, or visit the SBA’s website at www.sba.gov/sandy.

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Businesses, Nonprofit Organizations Get Smart About Low-Interest Disaster Loans

Disaster Unemployment Benefits Available For Mississippi Workers Affected By Hurricane Isaac

CLINTON, Miss. – People who lost work due to Hurricane Isaac may be eligible for disaster unemployment benefits, but deadlines are approaching.

Those living or working in Hancock, Harrison, Jackson and Pearl River counties have until October 4 to apply.

Residents and workers in Adams, Amite, Clarke, Forrest, George, Hinds, Lincoln, Marion, Pike, Stone, Walthall, Warren and Wilkinson counties have until October 10 to apply for unemployment benefits.

Those who may be eligible include:

Self-employed individuals who lived or worked in the affected areas during the storm and those who are unemployed as a result of the storm.
Workers who were unable to reach their jobs.
Those who were to begin employment because they were unable to travel due to the disaster.
Individuals who became the primary or major wage earner due to the disaster-related death of the head of the household.
Those who cannot work because of an injury caused as a direct result of the storm.
Individuals who can no longer work or lost work as a result of physical damage or destruction of a business.

To apply for disaster unemployment assistance, go online to www.mdes.ms.gov, which is available 24 hours a day, seven days a week. Or, call the toll-free number 888-844-3577 from 8 a.m. to 4:30 p.m. Monday through Friday. Those requiring TTY assistance may call 800-582-2233.

The program is funded by FEMA and administered by the state of Mississippi.

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Disaster Unemployment Benefits Available For Mississippi Workers Affected By Hurricane Isaac