FOR IMMEDIATE RELEASE
SMALL BUSINESS ADMINISTRATION NOT JUST FOR BUSINESSES
Only about 1/3 of those forms have been completed and returned in the disaster declared region.
The SBA provides loans to homeowners and renters as well as businesses of all sizes to help pay for the repair or replacement of disaster-related losses. The low-interest loans have terms up to 30 years to make them affordable. The SBA can loan up to $200,000 to repair homes and up to $40,000 to replace disaster-damaged personal property.
Federal Coordinating Officer Louis Botta said, “It is important that you complete this application if you need financial assistance. He explained, “The SBA loan is an important source of recovery funds. If you do not qualify for a loan, you may be considered for a grant from the Individual and Family Grant program. To receive either a loan or a grant, however, you must first complete and return the SBA loan application, even if you think you cannot afford a loan.”
State Coordinating Officer Michael M. Cline said, “If, after returning the SBA packet, you qualify for the grant program, you will receive a check and a letter explaining the losses for which you are being reimbursed. The check can be up to $14,800, but the average amount is under $3000.”
Flood victims who have not applied should call the FEMA toll-free registration number,
Be ready. Be willing to help.
Virginia Disaster Relief Fund
How is the money distributed?
Fund proceeds will be distributed to local long-term recovery groups, members of the Virginia Voluntary Organizations Active in Disaster and other non-profit and faith-based organizations as a grant.
Many of these groups work directly with individuals and families following a disaster.
How else can I donate?
The Virginia Disaster Relief Fund benefits projects that include: repair or rebuilding of underinsured dwellings, transportation assistance, replacing essential household items, helping renters establish new rental residence, temporary living expenses while recovering from loss, and more.
How can I donate?
If you want to help, send checks made payable to the Treasurer of Virginia with “Virginia Disaster Relief Fund” noted in the memo line to:
P.O. Box 1971
Richmond, VA 23218-1971