SBA

SBA Disaster Loans - A Major Source of Disaster Assistance 

Release Date: May 9, 2011
Release Number: 1973-023
» More Information on Georgia Severe Storms, Tornadoes, Straight-line Winds, and Associated Flooding

ATLANTA, Ga. -- For many Georgia residents and business owners recovering from recent severe storms and tornadoes, completing a U.S. Small Business Administration (SBA) disaster loan application is a necessity. SBA disaster loans provide funds to homeowners, renters, businesses and non-profit organizations for uninsured losses.
While federal grants are one form of disaster assistance available, most of the money for repairs or replacement of storm-damaged real estate, business inventory and personal property comes in the form of low-interest SBA disaster loans. A completed SBA disaster home loan application is an essential component for some disaster-related grants from the Federal Emergency Management Agency (FEMA).
Applicants who receive SBA loan applications should complete and return them to be considered for FEMA grants that cover personal property, vehicle repair or replacement, and moving and storage expenses. However, no one is obligated to accept a loan.
Those living and working in one of the 25 federally declared Georgia counties – Bartow, Catoosa, Cherokee, Coweta, Dade, Greene, Habersham, Harris, Heard, Floyd, Gordon, Lamar, Lumpkin, Meriwether, Monroe, Morgan, Newton, Pickens, Polk, Rabun, Spalding, Troup, Upson, Walker and White – may be eligible for an SBA loan. Homeowners, renters, certain private non-profit organizations and businesses of all sizes can apply for SBA for losses not covered by insurance or other sources. Persons with home-based businesses or rental property who have been affected by the storms may also be eligible for SBA loans.
Homeowners can borrow up to $200,000 to repair or replace their primary residence. Homeowners and renters can borrow up to $40,000 to repair or replace personal property.
Businesses may be eligible for up to $2 million in loans to repair or replace disaster-damaged real estate, machinery and equipment, inventory and other business assets. SBA also provides small business owners and most private non-profit organizations of all sizes with Economic Injury Disaster Loans (EIDLs) that provide money for ongoing business expenses needed to recover from the adverse economic impact of a disaster. These disaster loans are available even if the business didn’t sustain physical damages from the storms.
Loan amounts and terms are determined on a case-by-case basis. Interest rates can be as low as
2.688 percent for homeowners and renters, three percent for non-profit organizations, and four percent for businesses. Loan amounts and terms are set by SBA and based on each applicant’s financial condition. Payment terms as long as 30 years make the loans more affordable.
To register for assistance, residents should call FEMA’s toll-free number, 1-800-621-FEMA (3362) or TTY/TDD 1-800-462-7585 for those with speech or hearing functional needs between 7 a.m. and 10 p.m., seven days a week. Multi-lingual operators are available to answer calls during this time. Online registration is offered at www.disasterassistance.gov.
SBA representatives are available to assist with loan applications and to answer questions:

• In person at Disaster Recovery Centers (DRCs) operating in 13 of the federally declared counties.  Location of the nearest DRC is available when registering by phone or by going online to www.fema.gov/assistance/opendrcs.shtm.
• SBA Disaster Customer Service Center at 800-659-2955 or 800-877-8339 TTY for anyone with speech or hearing functional needs Monday through Friday, 8 a.m. to 6 p.m., and until further notice on Saturday and Sunday, 8 a.m. to 4:30 p.m. EDT.
• Online at www.sba.gov/services/disasterassistance.
• Queries emailed to disastercustomerservice@sba.gov.

Receive up to the minute Georgia disaster recovery information by following us on Twitter at www.twitter.com/femaregion4.

FEMA

FEMA's Home Inspectors Recording Damage To Speed Assistance To Georgia Survivors 

Release Date: May 8, 2011
Release Number: 1973-022
» More Information on Georgia Severe Storms, Tornadoes, Straight-line Winds, and Associated Flooding

ATLANTA, Ga. -- Several thousand Georgia residents are expected to seek federal assistance for their losses from the severe storms and tornadoes that began April 27, according to disaster recovery officials.
Recording the damage at each individual household is the responsibility of  inspectors sent by the Federal Emergency Management Agency (FEMA). Identifying damage is an early step in determining the amount and types of assistance that may be provided.
“Our inspectors have been averaging more than 200  households every day,” said FEMA’s Gracia Sczech, the federal coordinating officer. “Currently, it takes about two days from the time a survivor registers for assistance and the time he or she sees an inspector.”
Inspections are a key component in the recovery process. Being ready when the inspector visits can speed assistance.
To schedule an appointment to inspect your damaged home, a FEMA inspector will contact you at the number you provided FEMA when you registered. Please provide the inspector with clear, accurate directions to the damaged property.  A physical address is necessary; post office boxes do not show locations.
FEMA contracts for all inspections. The inspector is required to carry identification that includes his or her photo and ID number.  When the inspector comes to your home, ask to see the identification.
Be prepared to provide written proof of ownership, such as a tax receipt, deed, mortgage payment book, or home insurance policy showing the damaged property’s address.
The inspector will not ask you for your Social Security number, bank account number, credit card  number, or medical information. If someone claiming to be with FEMA asks you to provide such information, call “9-1-1” immediately.
Whether you are an owner or a renter, you must show that the damaged property was your primary residence at the time of the disaster. Inspectors will accept a valid driver’s license or current utility bill (such as an electric, gas or water bill) as proof of occupancy.
The inspection is free. It usually takes between 45 minutes and an hour and consists of measuring the real property, inspecting its contents, and recording the findings.
Using a handheld electronic device, the inspector creates a digital “model” of the damaged home and uses it to indicate where damage occurred. The device — called an inspector’s pad —transmits information electronically to FEMA. This speeds up the process of providing assistance.
The inspector will ask to see damage to both real property and personal property in all areas of your home. This is to inventory both the type and extent of loss. For example, not all disaster damage results in a complete loss. The inspector’s report will show which items are total losses, which items can be repaired, and which are not affected. If an item can be repaired, FEMA will not replace it with a new one.
Finally, the inspector does not determine whether you are eligible for assistance and should not tell you what you may or may not receive. Typically, in 10 days or less after the inspector’s visit, you will receive a letter from FEMA containing an initial decision. This initial decision can be reviewed or clarified by calling 1-800-621-3362 or in person at a Disaster Recovery Center.
More than a thousand homes have been inspected since the federal disaster declaration on April 29, 2011. More than $2.3 million has been approved for the almost 2,700 Georgia residents who have registered to date.
Additional information on the process is available at www.disasterassistance.gov.