Failure to return the application will disqualify you from other possible FEMA assistance
NASHVILLE – After you apply for disaster assistance from FEMA, you may be referred to the U.S. Small Business Administration (SBA). If you receive an SBA disaster loan application, you should fill it out and return it.
If your application is approved, you are not obligated to accept an SBA loan. But failure to return the application will disqualify you from other possible FEMA assistance, such as disaster-related car repairs, clothing, household items and other expenses.
SBA loans are the largest source of federal disaster recovery funds for survivors. In planning your recovery, give yourself the widest possible set of options. Submitting the application makes it possible for you to be considered for additional grants, and if you qualify for a loan you will have that resource available if you choose to use it.
Applicants may apply online using SBA’s secure website at Disasterloan.sba.gov. Applicants may also call SBA’s Customer Service Center at 800-659-2955 or email email@example.com for more information on SBA disaster assistance.
Businesses may borrow up to $2 million for any combination of property damage or working capital. Homeowners may borrow up to $200,000 from SBA to repair or replace their primary residence. Homeowners and renters may borrow up to $40,000 to repair or replace personal property.
The filing deadline to return applications for property damage is May 4, 2020. The deadline to return working capital applications is Dec. 7, 2020.
sbaFor more information on Tennessee recovery, visit the disaster web page, https://www.fema.gov/disaster/4476 and the Tennessee Emergency Management Agency website, https://www.tn.gov/content/tn/tema.html.