CLANTON, Ala. - Homeowners and renters in Jefferson and Shelby counties who were affected by the Oct. 6-7, 2021 severe storms and flooding who apply for disaster assistance from FEMA, may be referred to the U.S. Small Business Administration (SBA). If you are referred to SBA, you should submit an SBA disaster loan application.
FEMA Disaster Assistance and SBA
If your application is approved, you are not obligated to accept an SBA disaster loan, but failure to submit the application may disqualify you from other possible financial assistance, such as disaster-related losses for furniture, appliances, other essential household items, other essential expenses, primary vehicles, and group flood insurance for eligible applicants
SBA disaster 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 SBA application makes it possible for homeowners and renters to be considered for additional FEMA awards, and if you qualify for a loan, you will have that resource available for disaster repair needs.
SBA Loan Information
Homeowners may be eligible for a disaster loan up to $200,000 for primary residence structural repairs or rebuilding. SBA may also be able to help homeowners and renters with up to $40,000 to replace important personal property, including automobiles damaged or destroyed in the disaster. The deadline for homeowners and renters to apply for an SBA loan is Feb. 21, 2022.
SBA makes physical disaster loans of up to $2 million to qualified businesses or private nonprofit organizations. These loans may be used for the repair or replacement of real property, machinery, equipment, fixtures, inventory, or leasehold improvements. The filing deadline to return applications for physical property damage is Feb. 21, 2022.
Economic Injury Disaster Loans are available to small businesses and most nonprofit organizations in counties adjacent to Jefferson and Shelby Counties, including Bibb, Blount, Chilton, Coosa, St. Clair, Talladega, Tuscaloosa, and Walker. The deadline to file economic injury applications is Sept. 21, 2022.
SBA is operating a Business Recover Center at the Hoover Recreation Center in Hoover, AL:
* Address: 600 Municipal Drive, Hoover, AL 35216
* Hours of operation: Monday - Friday, 9:00 a.m. - 6:00 p.m. CST, closed Saturday and Sunday
For additional information about SBA disaster loans, the loan application process or for help completing the SBA application, visit SBA’s secure website at https://DisasterLoanAssistance.sba.gov/. Applicants may also call SBA’s Customer Service Center at 1-800-659-2955 (1-800-877-8339 TTY) or email disastercustomerservice@sba.gov for more information on SBA disaster assistance.
For more information about Alabama disaster recovery, visit www.fema.gov/disaster/4632. Follow the FEMA Region 4 Twitter account at twitter.com/femaregion4.
Source: Department of Homeland Security, Federal Emergency Management Agency
