ATLANTA – Low interest disaster loans from the U.S. Small Business Administration (SBA) are still available to businesses and residents that sustained losses due to the severe storms and flooding in Mississippi on March 9-29, 2016. Survivors have until May 24, 2016 to submit applications for physical damages.
Businesses and private non-profit organizations of any size may borrow up to $2 million for physical losses and working capital needs. Interest rates are 2.625 percent for non-profit organizations and 4 percent for businesses with terms up to 30 years.
By returning the SBA loan application, homeowners may be eligible for up to $200,000 to repair or replace their storm-damaged home. Homeowners and renters may be eligible for up to $40,000 for replacement of personal property. Interest rates are as low as 1.813 percent; terms are up to 30 years.
Completing the SBA application is an important part of the process of receiving assistance. There is no obligation to accept an SBA loan if offered. Completing the application, whether or not a loan is offered, may open the door to other possible assistance, including additional federal grant funds for homeowners and renters from FEMA.
The disaster declaration covers the following counties: Bolivar, Clarke, Coahoma, Forrest, George, Greene, Jones, Marion, Panola, Pearl River, Perry, Quitman, Sunflower, Tallahatchie, Tunica, Washington and Wayne in Mississippi which are eligible for both Physical and Economic Injury Disaster Loans from the SBA. Small businesses and most private nonprofit organizations in the following adjacent counties are eligible to apply only for SBA Economic Injury Disaster Loans: Covington, Desoto, Grenada, Hancock, Harrison, Humphreys, Issaquena, Jackson, Jasper, Jefferson Davis, Lafayette, Lamar, Lauderdale, Lawrence, Leflore, Newton, Sharkey, Smith, Stone, Tate, Walthall and Yalobusha in Mississippi ; Choctaw, Mobile and Washington in Alabama ; Chicot, Crittenden, Desha, Lee and Phillips in Arkansas ; and Saint Tammany and Washington parishes in Louisiana .
To be considered for all forms of disaster assistance, applicants should register with FEMA online at www.DisasterAssistance.gov or by mobile device at m.fema.gov . If online or mobile access is unavailable, applicants should call the FEMA toll-free Helpline at 800-621-3362. Those who use 711-Relay or Video Relay Services should call 800-621-3362 (800-462-7585 TTY).
Survivors may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at https://disasterloan.sba.gov/ela .
Disaster loan information and application forms may also be obtained by calling the SBA’s Customer Service Center at 800-659-2955 (800-877-8339 for the deaf and hard-of-hearing) or by sending an email to disastercustomerservice@sba.gov . Loan applications can be downloaded from www.sba.gov /disaster . Completed applications can be returned to a recovery center or mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
The filing deadline to return applications for physical property damage is May 24, 2016 . The deadline to return economic injury applications is Dec. 27, 2016 .
ATLANTA – Low interest disaster loans from the U.S. Small Business Administration (SBA) are still available to businesses and residents that sustained losses due to the severe storms and flooding in Mississippi on March 9-29, 2016. Survivors have until May 24, 2016 to submit applications for physical damages.
ATLANTA – May 24, 2016
Businesses and private non-profit organizations of any size may borrow up to $2 million for physical losses and working capital needs. Interest rates are 2.625 percent for non-profit organizations and 4 percent for businesses with terms up to 30 years.
By returning the SBA loan application, homeowners may be eligible for up to $200,000 to repair or replace their storm-damaged home. Homeowners and renters may be eligible for up to $40,000 for replacement of personal property. Interest rates are as low as 1.813 percent; terms are up to 30 years.
Completing the SBA application is an important part of the process of receiving assistance. There is no obligation to accept an SBA loan if offered. Completing the application, whether or not a loan is offered, may open the door to other possible assistance, including additional federal grant funds for homeowners and renters from FEMA.
The disaster declaration covers the following counties: Bolivar, Clarke, Coahoma, Forrest, George, Greene, Jones, Marion, Panola, Pearl River, Perry, Quitman, Sunflower, Tallahatchie, Tunica, Washington and Wayne in Mississippi which are eligible for both Physical and Economic Injury Disaster Loans from the SBA. Small businesses and most private nonprofit organizations in the following adjacent counties are eligible to apply only for SBA Economic Injury Disaster Loans: Covington, Desoto, Grenada, Hancock, Harrison, Humphreys, Issaquena, Jackson, Jasper, Jefferson Davis, Lafayette, Lamar, Lauderdale, Lawrence, Leflore, Newton, Sharkey, Smith, Stone, Tate, Walthall and Yalobusha in Mississippi ; Choctaw, Mobile and Washington in Alabama ; Chicot, Crittenden, Desha, Lee and Phillips in Arkansas ; and Saint Tammany and Washington parishes in Louisiana .
Mississippi Mississippi Alabama Arkansas Louisiana
To be considered for all forms of disaster assistance, applicants should register with FEMA online at www.DisasterAssistance.gov or by mobile device at m.fema.gov . If online or mobile access is unavailable, applicants should call the FEMA toll-free Helpline at 800-621-3362. Those who use 711-Relay or Video Relay Services should call 800-621-3362 (800-462-7585 TTY).
Survivors may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at https://disasterloan.sba.gov/ela .
Disaster loan information and application forms may also be obtained by calling the SBA’s Customer Service Center at 800-659-2955 (800-877-8339 for the deaf and hard-of-hearing) or by sending an email to disastercustomerservice@sba.gov . Loan applications can be downloaded from www.sba.gov /disaster . Completed applications can be returned to a recovery center or mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
The filing deadline to return applications for physical property damage is May 24, 2016 . The deadline to return economic injury applications is Dec. 27, 2016 .
May 24, 2016 Dec. 27, 2016