Georgia Residents Affected by Recent Tornadoes Urged to Return Completed SBA Applications

(BUSINESS WIRE)--The U.S. Small Business Administration is urging Georgia survivors affected by the recent tornadoes to quickly return completed SBA low-interest disaster loan applications in order to be considered for all forms of assistance. Homeowners and renters who cannot afford a loan will be referred to FEMA for possible grant funds.

“There is a tendency for survivors to discard SBA disaster loan applications because they may not want a loan. However, they risk missing out on grants by not returning completed applications to SBA,” said Frank Skaggs, director, SBA Field Operations Center East, Atlanta.

The Presidential disaster declaration in Georgia as a result of the severe storms and tornadoes of April 27-28 automatically activated the SBA disaster loan program. Survivors are encouraged to register with FEMA at 800-621-FEMA (3362). After registering with FEMA, many homeowners and renters will be referred to SBA to see if they may qualify for a low-interest disaster loan to replace or repair property destroyed or damaged by the tornadoes. If SBA determines they cannot afford a loan, in most instances, they will be referred back to FEMA for grant consideration.

Interest rates are as low as 2.688 percent for homeowners and renters with terms up to 30 years. Loan amounts and terms are set by the SBA and are based on each applicant’s financial condition.

To be considered for all forms of disaster assistance call the Federal Emergency Management Agency (FEMA) at 800-621-FEMA (3362), TTY 800-462-7585 for people with speech or hearing disabilities. 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 people with speech or hearing disabilities) Monday through Friday from 8 a.m. to 6 p.m. and Saturday 8 a.m. to 4:30 p.m. ET or by sending an e-mail to disastercustomerservice@sba.gov.

SBA provides disaster loans to homeowners, renters and businesses of all sizes. Those affected by this disaster may fill out a loan application online by visiting SBA’s secure website at https://disasterloan.sba.gov/ela/.

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