A short PSA-style video transcript describing U.S. Small Business Administration (SBA) disaster assistance loans for homeowners, renters, businesses and nonprofits. It explains eligibility, loan terms (including limits and up to 30-year terms), what losses are covered, and includes multiple survivor testimonials about how SBA loans helped them recover after fires, tornadoes, and hurricanes.
A fire destroyed tornado ripped through the small town.
The SBA Federal Disaster loans for homeowners, renters and businesses of all sizes. When disaster strikes, lives are changed. In recent years, disasters have claimed thousands of lives and caused billions of dollars in property losses. These figures are staggering, but behind each number is a person struggling to regain what the disaster took away. The U.S. small Business Administration plays a key role in the recovery process for disaster survivors. Here's how it works. When a homeowner, renter or business owner suffers a loss, insurance and grants may not cover it all. That's where the SBA comes in. SBA disaster loans help survivors rebuild homes, businesses and other personal property. The SBA offers long term low interest loans to help take the sting out of the recovery process. Here's a more in depth look. SBA Disaster Assistance loans are for victims of disasters declared by the President or SBA administrator. Are for homeowners, renters and business owners. Feature low interest rates with terms up to 30 years. Provide loans up to $200,000 for homeowners to repair or replace a primary residence. Provide loans up to $40,000 for homeowners and renters to repair or replace personal properties such as clothing, furniture or automobiles. Provide loans up to $2 million to businesses and nonprofit organizations to repair or replace damaged property, including inventory and equipment. Provide loans for small businesses and agricultural cooperatives that have suffered financial losses due to the disaster. Approvals are based on the victim being eligible, able to repay the loan, and having credit acceptable to sba. Cover losses that insurance or grants may not cover. May include additional amounts for protective improvements. Cover primary residents, rental homes and businesses may require collateral. Let's look at a few stories.
It took 10 years for my restaurant to do well and one day for the hurricane to destroy it. How do you bounce back from something like that? The U.S. small Business Administration came to town with applications for home and business loans. And I didn't waste time. I applied for a loan to repair the building and get help with my losses. Now, well, come see for yourself because I'm back in business.
The fire destroyed hundreds of acres of land. It was the first time in my life that I really didn't know what to do. The fire took away my home and my peace of mind. But then I got a loan from U.S. small Business Administration and I got my home back. And that's when I knew everything was going to turn out okay. And all I can say now is thank you, sba. Thank you.
The tornado took everything away. It completely wiped us out. My insurance wasn't nearly enough, but I found help from the most unlikely source, the U.S. small Business Administration. I knew the SBA was part of the federal government, but I didn't know they helped homeowners as well as businesses. For me, the SBA disaster loan really made a difference.
If you're facing the challenge of rebuilding in the aftermath of a disaster, an SBA disaster loan may help you get back what was lost. To learn more about the SBA Disaster Assistance Program, see our website at www.sba.gov or call us at 1-800-659-2955. The SBA Federal Disaster Loans for homeowners, renters, and businesses of all sizes.
