The district was asked to share the following information with residents on behalf of the U.S. Small Business Association...
Those that were affected by the Memorial Weekend storms should register with FEMA and submit a SBA disaster loan application before the September 3 deadline. Completing an SBA disaster loan application is an important part of the Federal assistance process. For more information or to apply, visit disasterloan.sba.gov.
The SBA offers low interest, long term disaster loans to help homeowners make repairs to their primary residence and to help renters and homeowners replace belongings that were damaged by the tornadoes and floods. Interest rates are as low as 1.938%.
Those that are denied a disaster loan are referred back to FEMA for any other assistance that might be available. However they must complete the disaster loan application to be eligible for that assistance. If approved, the applicant does not have to accept the disaster loan. If they apply before the deadline, they have time to decide whether a loan is wanted or needed.
For more information, please follow the links for the SBA Fact Sheet and flyer.