Jun 2nd 2008, 12:13

Fill Up SBA Loan Apps and Get Disaster Aid Faster!

If your area has been severely affected by a calamity, you can always count on the government to provide you and your family with all the assistance you'll require to recover from the losses. One of the principal sources of disaster aid is the Federal Emergency Management Agency (FEMA), which gives disaster-stricken communities direct financial aid and a range of other emergency services that can help victims rebuild their lives.

But did you know that some things could hamper the approval of your application for disaster assistance? If you applied for disaster aid from FEMA and also received a disaster loan application from the U.S. Small Business Administration (SBA), you will have to fill out the SBA form, even if you weren't meaning to take out a loan from them. This is because FEMA disaster aid applicants can sometimes be referred for an SBA loan application, which must be filled up before other aid programs can be checked out.

It must be noted that FEMA disaster aid can only respond to victims' basic emergency needs, and that other losses may not be accounted for by the agency. SBA loans, on the other hand, can offer as much as $200,000 to homeowners whose houses or properties may have been damaged by a calamity. The SBA can even lend a hand to businesses and non-profit organizations affected by disasters, eventually helping them get their operations up again.

To find out more about what you should do when disaster hits your community, contact the FEMA or the SBA in Washington D.C., as well as local state agencies that may have useful information about disaster assistance guidelines in your area.



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