MO 15151-03 SBA Tops $10 Million in Disaster Assistance Loans

SACRAMENTO, Calif., July 13 -- The Small Business Administration's Office of Disaster Assistance issued the following news release:

Acting Regional Administrator Wayne Bell of the U.S. Small Business Administration announced today that SBA has approved more than $10.1 million in federal disaster loans to help businesses and residents affected by the severe storms, tornadoes, straight-line winds and flooding that occurred April 28 - May 11, 2017. According to Bell, SBA has approved $1,598,400 for businesses and $8,510,400 for residents to help rebuild and recover from this disaster.

Businesses and residents are encouraged to register with the Federal Emergency Management Agency prior to the Aug. 1, 2017, deadline by calling (800) 621‑FEMA (3362) or (800) 462-7585 (TTY) for individuals who are deaf or hard‑of‑hearing. Don't miss out on any assistance you may be entitled to by not registering for help. You do not need to wait for your insurance to settle or obtain a contractor's estimate.

"SBA's disaster assistance employees are committed to helping businesses and residents rebuild as quickly as possible. SBA representatives are at federal-state Disaster Recovery Centers throughout the affected areas to explain and answer questions about SBA's disaster loan program and help business owners and residents apply to SBA," said Bell. Locations of centers and additional SBA disaster assistance information are available by calling (800) 659-2955 or visiting SBA's website at https://disasterloan.sba.gov/ela.

Businesses of all sizes and private nonprofit organizations may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other business assets. The SBA can also lend additional funds to help business and residents with the cost of making improvements that protect, prevent or minimize the same type of disaster damage from occurring in the future.

For small businesses and most private nonprofit organizations of all sizes, SBA offers Economic Injury Disaster Loans to help meet working capital needs caused by the disaster. Economic injury assistance is available regardless of whether the business suffered any property damage.

Disaster loans up to $200,000 are available to homeowners to repair or replace their damaged or destroyed primary residence. Homeowners and renters are eligible for up to $40,000 to repair or replace damaged or destroyed personal property.

Applicants may apply online, receive additional disaster assistance information and download applications at https://disasterloan.sba.gov/ela. Applicants may also call SBA's Customer Service Center at (800) 659-2955 or email [email protected] (link sends e-mail) for more information on SBA disaster assistance. Individuals who are deaf or hard‑of‑hearing may call (800) 877-8339. Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

The deadline to apply for property damage is Aug. 1, 2017. The deadline to apply for economic injury is March 2, 2018.