Disaster Recovery Assistance Information
Does your business qualify for FEMA Assistance?
Businesses interested in applying for federal emergency assistance, this is your starting point. The SBA has disaster assistance available for businesses, individuals (homeowners/renters), non-profit organizations, churches, small aquaculture businesses, and small agricultural cooperatives impacted by Hurricane Sally. These are low-interest disaster loans for uncompensated losses, such as if insurance were not enough or there is no insurance. Apply online at www.disasterassistance.sba.gov.
Businesses need to get a FEMA number first, then apply online for an SBA Disaster Loan. It is available for Baldwin, Mobile, and Escambia Counties for physical damage, and additional counties for Economic Injury Loans. SBDC (Small Business Development Center) can assist with applications once the client has FEMA number. Updates can be found online at ASBDC.ORG as they become available.
Register with FEMA (1 of 3 ways):
- (1) Call 1-800-621-3362 (TTY# 1-800-462-7585)
- (2) Register online at http://disasterassistance.gov
- (3) Download the FEMA app on your mobile device and register using the app. The FEMA app is free on the App Store and Google Play. Learn safety tips about what to do before, during, and after disasters. Receive notifications about severe weather for up to five locations nationwide.
- Fact Sheet: What can I do on DisasterAssistance.gov?
- U.S. SMALL BUSINESS ADMINISTRATION FACT SHEET - DISASTER LOANS
- 09.21.20 NEWS RELEASE Disaster Field Operations Center East
- SBA Virtual Disaster Loan Outreach Center And Virtual Business Recovery Center Flyer
Here are "TIPS" from U.S. Small Business Administration, Disaster Assistance - Julie Garrett, Public Affairs Specialist
- If a business has PPP and/or a COVID-19 EIDL they can still apply for a hurricane disaster loan. These are separate disasters.
- The application process for a “regular” disaster loan is more involved than the COVID-19 EIDL. Please make sure to fill out the regular application when applying.
- Businesses that apply for a physical disaster loan for their uncompensated losses will automatically be considered for economic injury. They can apply at disasterloan.sba.gov – be careful not to apply on the COVID-19 EIDL application.
- The customer service center - 800-659-2955 - is staffed from 7 a.m. - 7 p.m. Central Time, daily. People can also email FOCE-Help@sba.gov - Or email Julie Garrett, Public Affairs Specialist to get a customer service representative to call you.
- Loans can be used to cover insurance deductibles.
- Loans can be used to assist with debris removal.
- Piers, docks, and boathouses are eligible, but are subject to the $5,000 landscaping limits.
- Seawalls are eligible.
- Owners of rental property can submit a business loan application for uncompensated physical damages and/or lost rental income due to the disaster.
- There is no cost to apply, no points, etc.
- Loan terms are up to 30 years; no prepayment penalty; and the first loan payment is not due until 5 months from when the note is signed.
- No collateral for loans of $25,000 or less. A business can borrow $25K for physical damages and $25K for working capital, for a total of $50K, without putting up collateral.
- Loan amounts are based on your losses.
- SBA is a cash flow lender. We will look at your credit history and your ability to repay your loan.
- You can accept a partial amount of the total approved loan amount offered by SBA. You are under no obligation to accept the loan.
- You can turn down the loan now, with the option of reactivating it anytime within 6 months of the date of the determination letter if you change your mind.
- You don’t have to wait for your insurance settlement to apply.
- Loans are direct from the U.S. Treasury, not a bank. The interest rate and terms do not change.