FEMA: It’s Important to Submit an SBA Loan Application

Prattville, Ala. – FEMA may refer survivors of the Jan. 12 storms and tornadoes in Alabama to the U.S. Small Business Administration (SBA) with information on how to apply for a disaster loan. It’s important to submit the loan application as soon as possible.

If your application is approved, you are not obligated to accept an SBA loan but failure to return the application may disqualify you from other possible financial assistance from FEMA.

SBA disaster loans are the largest source of federal disaster recovery funds for survivors. SBA offers long-term, low-interest disaster loans to businesses of all sizes, private nonprofit organizations, homeowners and renters. 

SBA disaster loans cover losses not fully compensated by insurance or other resources. Survivors should not wait for an insurance settlement before submitting an SBA loan application.

You may apply online using the Electronic Loan Application (ELA) via the SBA’s secure website at disasterloanassistance.sba.gov/. Paper applications may be requested by calling the SBA Customer Service Center at 800-659-2955. If you are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services or send an email to disastercustomerservice@sba.gov. There is no cost to apply for an SBA disaster loan. 

Homeowners may be eligible for a disaster loan up to $200,000 for primary residence structural repairs or rebuilding. SBA may also be able to help homeowners and renters with up to $40,000 to replace important personal property, including automobiles damaged or destroyed in the disaster.

Survivors can apply for disaster assistance at disasterassistance.gov, by using the FEMA mobile app, or by calling 800-621-3362. The helpline is open, and help is available from 6 a.m. to 10 p.m. local time in most languages. If you use a relay service such as video relay service (VRS), captioned telephone service or others, give FEMA the number for that service.

For information on Alabama’s disaster recovery, visit fema.gov/disaster/4684. Follow FEMA on Twitter at FEMA Region 4 (@femaregion4) / Twitter and at facebook.com/fema.