Emergency Management

Posted on: December 21, 2016

Homeowners, renters, businesses reminded they can still apply for hurricane-related SBA loans

SBA hurricane help

Dec. 21, 2016 - The U.S. Small Business Administration wants to remind Hampton homeowners, renters and businesses who need help recovering from Hurricane Matthew that they can still apply to receive low-interest loans for disaster-related damages.

The first step is registering with the Federal Emergency Management Agency at www.DisasterAssistance.gov or by calling 1800-621-3362. Once registered with FEMA, residents and business owners in need can apply for a disaster loan from the SBA at  https://disasterloan.sba.gov/ela/ or by calling 1-800-659-2955. 

Tamim Choudhury, public affairs specialist with the SBA, said the deadline for applications relating to physical loss is Jan. 3, and the deadline to apply for economic injury loans is Aug. 2.  Loan applicants are also encouraged to check with other agencies or organizations administering grants or other assistance under the region's disaster declaration to determine how approval of an SBA loan might affect their overall eligibility.

Hampton had at least 28 single-family homes, 2 mobile homes, 1 non-profit and 18 apartment buildings affected by Matthew earlier this year, along with power outages, downed trees and other damage. The city reported a total dollar loss of $1.86 million. 

FEMA has registered more than 150 people in Hampton for "individual and household" assistance and for "other needs assistance" totaling nearly $200,000. Choudhury said the SBA has approved seven home loans in Hampton for $73,500 as of Dec. 14.







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