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Sba disaster loan phone number Form: What You Should Know
The assistance can help with the cost of rebuilding and replacing damaged or destroyed property and supplies for temporary employment and family, as well as to help consumers avoid unexpected expenses. These loans are intended to help you restore your life to its normal condition as soon as is economically possible and provide additional cash resources in order to recover from financial challenges you face following a disaster. If you are facing an unexpected or devastating disaster and cannot recover from its impact immediately, disaster loan assistance may help you avoid a greater need for additional financial resource. The SBA will make a partial payment toward any future home loan you may receive through this program, and will make the maximum payment it would grant during the emergency period based on the current market value of the homes and the amount that the SBA estimates they would need for recovery and rebuilding operations. Homeowners, renters, and business owners may apply online through the SBA Disaster Loan Assistance website or call the FEMA Disaster Loan Customer Service Center at, option 1 to speak with an SBA approved representative. For more information about FEMA's disaster loans, homeowners loans, or other disaster and need assistance, call. The Disaster Loan Assistance program has an interest rate of 16.5 percent for a maximum loan amount of 10 million. For a small business, the maximum interest rate is 25 percent. The interest rate is subject to change. The SBA will make a full payment of all principal and interest on a disaster loan within 14 days of a payment. The SBA can extend this time period by providing an extension request.
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