SMALL BUSINESS ADMINISTRATION NOT JUST FOR BUSINESSES

April 1, 2011  //  


 











Media Contacts:
FEMA – Josie Pritchard        (276) 973-0078
VDEM – Suzanne Simmons   (276) 973-0063


        FOR IMMEDIATE RELEASE
       
May 3, 2002
        FEMA-1406-DR-VA-NR51


SMALL BUSINESS ADMINISTRATION NOT JUST FOR BUSINESSES



WISE, VA. – In the aftermath of the floods that struck Southwest Virginia in March, people who seek disaster assistance may find they have also been issued a U.S. Small Business Administration (SBA) loan application. The forms are sent to all applicants, individuals as well as business owners who may qualify for a loan. This form must be completed and returned before any further assistance can be considered.


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,
1-800-621-3362. For the speech or hearing impaired the TTY number is
1-800-462-7585. The registration number is available for 8 a.m. to 8 p.m. Monday through Friday until further notice.





NOTE TO EDITORS: Information on the Southwest Virginia disaster is also available on FEMA’s homepage on the Internet at www.fema.gov, or VDEM’s homepage at www.vaemergency.com. Information also is available through FEMA’s 24-fax-on-demand service by calling (202) 646-FEMA. RADIO NEWS DIRECTORS: For recorded actualities on response and recovery operations call the FEMA Radio Network at 1-800-323-5248.

 

Be ready. Be willing to help.

Virginia Disaster Relief Fund