ATLANTA – Those who suffered earthquake damage can rebuild stronger by applying for a Small Business Administration (SBA) disaster loan that includes funding to reduce property damage in the future. Businesses of all sizes, private nonprofit organizations, homeowners and renters are eligible to apply for the low interest disaster program offered by SBA.
SBA disaster loans for physical damages, are eligible for additional money to cover the cost of improvements to protect the property against damage from similar events in the future. Mitigation loan money is in addition to the amount of the approved loan and can be up to 20 percent of the total amount of physical damage, as verified by SBA, up to $200,000 for home loans.
Eligible mitigation improvements may include strengthening and retrofitting masonry buildings or concrete facilities that are vulnerable to ground shaking, installing window film to prevent shattered glass, or anchor rooftop-mounted equipment to help protect people and property from future earthquake damage.
To be considered for all forms of disaster assistance, applicants should register online at DisasterAssistance.gov or download the FEMA mobile app. If online or mobile access is unavailable, applicants should call the FEMA toll-free helpline at 800-621-3362 or (TTY) 800-462-7585. Multilingual operators are available. Press 2 for Spanish. Press 3 for other languages.
Survivors may apply for an SBA Disaster Loan online using the Electronic Loan Application (ELA) via the SBA’s secure website at DisasterLoan.sba.gov.
Additional details on the locations of Disaster Recovery Centers and the loan application process can be obtained by calling the SBA Customer Service Center at 800-659-2955 (800-877-8339 for the deaf and hard-of-hearing) or by sending an e-mail to disastercustomerservice@sba.gov.
The filing deadline to return applications for physical property damage is March 16, 2020. The deadline to return economic injury applications is Oct. 16, 2020.
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