SBA
After you apply for disaster assistance, you may be referred to the Small Business Administration (SBA). The SBA may contact you to offer a low-interest disaster loan. To remain eligible for additional FEMA programs, homeowners and renters who receive an application for an SBA loan should complete the application even if they ultimately decide not to take it.
BUSINESS OF ANY SIZE | MOST NON-PROFITS:
Up to $2 million for property damage.
SMALL BUSINESSES | SMALL BUSINESSES ENGAGED IN AQUACULTURE | MOST NON-PROFITS:
Up to $2 million for working capital needs even if they had no property damage, with a $2 million maximum loan for any combination of property damage and working capital needs.
HOMEOWNERS:
Up to $200,000 to repair or replace their primary residence.
HOMEOWNERS AND RENTERS:
Up to $40,000 to replace personal property, including vehicles.
BUSINESSES AND CONSUMERS CAN FILE ONLINE:
https://disasterloanassistance.sba.gov
For questions and assistance completing an application:
Call toll-free: 1-800-659-2955
Email: FOCWAssistance@sba.gov
INSURANCE CLAIMS
When you have insurance and ask insurance to pay for a covered loss, that starts the claims process. A lot of times, insurance will pay some money on a claim, but you might get low-balled. If that happens, you will have to fight to try to get more. That is when many people choose to get an attorney.
BE CAREFUL NOT TO DOUBLE DIP AND TRY TO GET TWO FUNDING SOURCES TO COVER THE SAME THING. THERE IS A FEDERAL RULE AGAINST “DUPLICATION OF BENEFITS.”