Residents with damage should first register with FEMA at disasterassistance.gov (short-term grants) and then apply to SBA for a disaster loan at disasterloan.sba.gov. Those whose loan applications are denied by SBA will be referred back to FEMA for potential additional grant consideration. If approved for a loan, an applicant is under no obligation to accept it. They can turn it down now, and still “reactivate” their application for up to 6 months from the date of their determination letter. An SBA loan is one tool in a person’s recovery toolkit as they consider all their options.
It’s important to know that low-interest federal disaster loans are for HOMEOWNERS AND RENTERS, plus businesses of all sizes, non-profit organizations, faith-based organizations, small aquaculture businesses, and small agricultural cooperatives impacted by Hurricane Sally. All can apply for their uncompensated losses – i.e. their insurance wasn’t enough to complete their repairs or they didn’t have insurance. (See the U.S. Small Business Administration Fact Sheet link below for details.)
Below please find the SBA documents:
NEWS RELEASE Disaster Field Operations Center East
SBA Virtual Disaster Loan Outreach Center And Virtual Business Recovery Center for FL
U.S. SMALL BUSINESS ADMINISTRATION FACT SHEET - DISASTER LOANS