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Jul 29, 2022
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SBA Offers Disaster Assistance to Businesses and Residents of Tennessee Affected by Wind, Severe Weather, and Wildfires in Spring 2022


Affected by Wind, Severe Weather, and Wildfires? SBA CAN HELP!
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SBA Low-Interest Federal Loans for Disaster Related Damages

Disaster Assistance

 

SBA Agency Declaration TN #1753

Physical Damage Application Deadline- September 19, 2022
Economic Injury Application Deadline- April 20, 2023

Tennessee businesses and residents affected by wind, severe weather and wildfires from March 30, 2022 through April 6, 2022 may apply for low-interest disaster loans from the U.S. Small Business Administration.

Business Disaster Loans- Up to $2 Million
Businesses and nonprofits may apply for loans to repair or replace damaged or destroyed real estate, machinery, equipment, inventory, other business assets, and to prepare for future disasters.

Economic Injury Disaster Loans- Up to $2 Million
Small businesses, agricultural cooperatives, aquaculture enterprises, and most nonprofits may apply for loans to meet their working capital needs through the recovery period.

Home Disaster Loans
Homeowners may apply for loans up to 200 000 to repair or replace a primary residence and get assistance to protect their home against future disasters Additionally, homeowners and renters can get up to 40 000 to repair or replace personal property, such as furniture, appliances, and vehicles.

  • Interest rates as low as 2.94 percent for businesses, 1.875 percent for nonprofit organizations, and 1.438 percent for homeowners and renters
  • All loans have repayment terms up to 30 years
  • Loan amounts and terms are set by the SBA and are based on each applicant’s financial condition
  • For businesses/homeowners, mitigation funds are available up to 20% of SBA’s verified physical damage amount

CLICK HERE TO APPLY


https://disasterloanassistance.sba.gov/ela/s/

Or visit the Disaster Loan Outreach Center (DLOC)
King Family Library
408 High St.
Sevierville, TN 37862

OPENING:Thursday, July 21, 2022, noon- 7PM

HOURS: Monday, Tuesday, Wednesday, Friday, 9AM- 6PM
               Thursday, 10 a.m. 7 p.m.; Saturday 10AM- 2PM
               Closed: Sundays

CLOSES PERMANENTLY: Thursday, August 4, 2022 at 5PM

EMAIL: DisasterCustomerService@sba.gov

For questions or assistance, call 800-659-2955, Monday-Friday 8AM- 8PM

Disaster Assistance 2

 

Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at DisasterLoanAssistance.sba.gov/ela/s and should apply under SBA declaration # 17532.

Disaster loan information and application forms can also be obtained by calling the SBA’s Customer Service Center at 800-659-2955 (if you are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services) or sending an email to DisasterCustomerService@sba.gov. Loan applications can also be downloaded from sba.gov/disaster. Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

The filing deadline to return applications for physical property damage is Sept. 19, 2022. The deadline to return economic injury applications is April 20, 2023.

Note: Loan applicants should check with agencies / organizations administering any grant or other assistance program under this declaration to determine how an approval of SBA disaster loan might affect their eligibility.