Release Number: NR:012
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 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.
###
Release Number: NR:024
The U.S. Small Business Administration (SBA) plays a unique role in helping all disaster survivors recover.
If you are a Hurricane Matthew disaster survivor who lives in one of the 35 North Carolina counties designated for individual assistance and has applied for help with FEMA, you may be referred to the SBA. If you receive a loan application, it is important to submit it as soon as possible. This will ensure that the federal disaster recovery process continues and you keep your options open. If you receive a loan application, even if you do not believe you need a loan, you should submit the application. If SBA determines you are eligible for a loan, you do not have to accept it.
Next to insurance, an SBA low-interest disaster loan is the primary source of funds for real estate property repairs and for replacing contents destroyed in the recent flooding. The SBA provides low-interest loans to homeowners, renters and businesses of all sizes.
- As a homeowner you may be eligible for a home disaster loan up to $200,000 to repair or replace disaster-damaged or destroyed real estate. As a homeowner or renter you may be eligible for up to $40,000 to repair or replace disaster-damaged or destroyed personal property.
- SBA may be able to help homeowners and renters replace important personal items such as personal property, including automobiles, damaged or destroyed in the disaster.
- The easiest way to apply for an SBA low-interest disaster loan is to visit an SBA Business Recovery Center (BRC) or a FEMA Disaster Recovery Center (DRC) and meet with an SBA representative in person. SBA has staff at all BRCs and DRCs to help you with your application. BRCs are listed below. To find the closest DRC go online to www.fema.gov/drc or download the ReadyNC mobile app. You may also apply online using the Electronic Loan Application via the SBA’s secure website at https://disasterloan.sba.gov/ela.
- For additional details on the locations of DRCs and the loan application process you can call the SBA Customer Service Center at 800-659-2955 (800-877-8339 for the deaf and hard-of-hearing) or send an email to disastercustomerservice@sba.gov.
- You may be eligible for a loan amount increase up to 20 percent of your physical damage, as verified by the SBA, for mitigation purposes. Eligible mitigation improvements may now include a safe room or storm shelter to help protect your property and its occupants from future damage caused by a similar disaster.
- Do not wait on 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.
- Homeowners and renters who submit an SBA application and are not approved for a loan may be considered for certain other FEMA grants and programs that could include assistance for disaster-related car repairs, clothing, household items and other expenses.
- SBA can help businesses and private nonprofit organizations with up to $2 million to repair or replace disaster-damaged real estate, and other business assets. Eligible small businesses and nonprofits may apply for economic injury disaster loans to help meet working capital needs such as business losses caused by the disaster.
- The filing deadline to return applications for physical property damage is Dec. 9. The deadline to return economic injury applications is July 10, 2017.
SBA Business Recovery Centers (BRCs) are a resource where you can meet face-to-face with SBA representatives to learn how a low-interest disaster loan can help you recover. The centers are located at:
- Business Recovery Center #1
(Cumberland County) SBTDC at Fayetteville State University
Small Business and Economics Building, BRC
1200 Murchison Road, Suite 306, Rooms A and D
Fayetteville, NC 28301
- Business Recovery Center #2
(Pitt County) SBTDC Regional Service Center, East Carolina University
Willis Building, BRC
300 E. 1st Street
Greenville, NC 27858-1201
- Business Recovery Center #3
(Robeson County) SBTDC Robeson Community College Workforce Development Center
Building 18
5160 Fayetteville Road
Lumberton, NC 28358
To be considered for all forms of disaster assistance:
- Go online at DisasterAssistance.gov.
- Call the FEMA Helpline at 800-621-3362. It is the same number if you use 711, Video Relay Service, or other relay service.
- Call 800-462-7585 if you are deaf, hard of hearing or have a speech disability and you use a TTY.
- Download the FEMA Mobile App and apply.
For more information on the North Carolina recovery, visit the disaster webpage at fema.gov/disaster/4285, or visit the North Carolina Emergency Management website at ncdps.gov. Follow FEMA on Twitter at @femaregion4 or North Carolina Emergency Management @ncemergency.
###
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 800-621-3362 or TTY at 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 FEMA on twitter at@femaregion4. Download the FEMA app with tools and tips to keep you safe before, during, and after disasters.
Dial 2-1-1 or 888-892-1162 to speak with a trained call specialist about questions you have regarding Hurricane Matthew; the service is free, confidential and available in any language. They can help direct you to resources. Call 5-1-1 or 877-511-4662 for the latest road conditions or check the ReadyNC mobile app, which also has real-time shelter and evacuation information. For updates on Hurricane Matthew impacts and relief efforts, go to ReadyNC.org or follow N.C. Emergency Management on Twitter and Facebook. People or organizations that want to help ensure North Carolina recovers can visit NCdisasterrelief.org or text NCRecovers to 30306.
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 homeowners, renters, businesses of all sizes, and private non-profit organizations 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 Customer Service Center by calling 800-659-2955, emailingdisastercustomerservice@sba.gov, or visiting SBA’s Web site at www.sba.gov/disaster. Deaf and hard-of-hearing individuals may call 800-877-8339.