Submission of an SBA request may result in additional disaster assistance


A United States Small Business Administration (SBA) disaster loan isn’t just for businesses. Making a request can have many benefits for Hurricane Ida survivors who seek help.

After requesting disaster assistance from FEMA, you may have been contacted by the SBA. If you have been asked to apply for a low interest SBA loan, you are encouraged to do so, even if you do not currently need a loan. Applying to the SBA ensures that all options for disaster assistance remain open to you.. In fact, the SBA application can be the basis for referrals to other grant programs.

While the deadline to apply was December 14, the SBA will continue to accept applications on a case-by-case basis if you can demonstrate that your application is late for substantial reasons beyond your control. When you apply, you must include a detailed letter explaining why you were not able to apply by the deadline. If you started, but didn’t complete your application by the deadline, you can still complete and submit it, but be sure to include this detailed letter explaining why you couldn’t complete your application by the deadline. deadline.

The SBA can help tenants and landlords replace household contents (for example, clothing, furniture, and appliances) and vehicles, known as personal property. Homeowners and tenants are entitled to up to $ 40,000 to repair or replace damaged or destroyed personal property, and homeowners can charge up to $ 200,000 to repair or replace damage to their personal residence. If you seek SBA help but are turned down, FEMA may be able to help you instead with grants based on other aid needs.. If you seek SBA help but have been refused, FEMA may be able to offer additional help in the form of a grant. However, you must first apply for an SBA loan to be considered for FEMA personal property assistance.

If the SBA determines that you are eligible for a loan, you are not required to accept it. Eligibility for an SBA loan also does not mean that you are not eligible for FEMA assistance. Likewise, if the SBA denies your loan application, you may still be eligible for additional FEMA assistance to meet your disaster needs. The SBA will refer you to FEMA if you are not eligible for an SBA loan.

SBA loans can help uninsured or underinsured survivors. For example, you might find that you were underinsured for work needed to repair or replace your home. A low interest SBA disaster loan can bridge the gap between your recovery costs and the settlement amount.

With SBA disaster loans, there is no prepayment penalty, no fees to apply, and a grace period of up to five months before you have to start repaying the loan. The bottom line is that there is no obligation to apply for an SBA loan, only potential benefits. It is important to apply as early as possible.

The SBA has set up a virtual disaster lending awareness center which is open Monday through Friday, 7:00 am to 7:00 pm Survivors can contact an SBA customer service representative by email. at [email protected] or by phone at 800-659-2955 for assistance in applying. Survivors can also apply online at or in person at one of the five Disaster Loan Assistance Centers in Louisiana.


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