SBA deadline looming

Five days remain for disaster survivors who sustained storm-related damages between April 15 and May 31 to return their disaster loan application to the U.S. Small Business Administration.

Survivors only need about 20 to 30 minutes to complete the SBA disaster loan application by the Monday, July 18, deadline. Completing the application may provide survivors with the funding necessary to assist them in rebuilding their lives.

Homeowners can receive loans of up to $200,000 to repair or replace storm-related damages. Homeowners and renters may borrow up to $40,000 to replace damaged or destroyed personal property, including vehicles.

Applying for a disaster loan may also open the door to FEMA disaster recovery grants that do not need to be paid back.

SBA loans, with rates as low as 2.563 percent, are available in the 43 counties designated for FEMA Individual Assistance.

Survivors can call the SBA toll free at 800-659-2955 or 800-877-8339 TTY. They can also apply online at SBA’s secure website at https://DisasterLoan.SBA.gov/ELA or they can mail their applications to U.S./SBA, Disaster Processing and Distribution Center, 14925 Kingsport Rd., Ft. Worth, Texas 76155-2243. Mailed applications must be postmarked by July 18.