Businesses, nonprofits, homeowners, and renters can apply for SBA disaster loans to cover uninsured property damage, inventory, and fixtures. Register with FEMA for presidentially declared disasters or apply directly to SBA for others. The SBA runs a credit check, assesses your losses, assigns a case manager, and disburses funds.
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When disaster strikes, the U.S. small Business Administration or SBA is here to help you get back on your feet. Whether a business, nonprofit, homeowner or renter, you can apply for a disaster assistance loan. Loans can be used to repair or replace uninsured or underinsured disaster losses, from property to inventory to furniture and fixtures. Some applicants may be eligible for additional funds to take steps to prevent losses should another disaster hit, such as strengthening roofs or elevating structures. Applying is three easy steps. Step one for those in a presidential declared disaster area, Register with the Federal Emergency Management Agency or FEMA to begin and you will be referred to sba. In non presidential disaster declarations, you can apply directly with SBA. STEP 2 Once your application is received, SBA conducts a credit check, discusses your eligible losses, and determines your repayment ability. Step 3 if approved, you'll be assigned a case manager who will walk you through the steps for loan closing and receiving your loan disbursements. The fastest way to to receive your disaster recovery funds is to apply online at disasterloan.sba.gov Applications are also accepted in person at a disaster center, you don't have to wait for disaster to happen. Prepare your business or home today by assessing your risk and developing a recovery plan to help make the process easier. Sign up for alerts from your local responders. To find out more about preparedness, visit www.sba.gov prepare. The SBA is your partner in recovery. Find out what the SBA can do for powering the American Dream by empowering you.
