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Tornado 2020 Assistance
Home > Tornado 2020 Assistance

Tornado 2020 Assistance - FEMA & US SBA

Federal Assistance for Hamilton County Residents and Businesses impacted by the April 12-13 tornadoes

 
In times of disaster, FEMA provides short-term grants, and SBA provides low-interest disaster loans to help communities repair, rebuild and recover. Businesses of all sizes, AND homeowners, renters, non-profit organizations, faith-based organizations, and small agricultural cooperatives are all eligible to apply for physical disaster loans for damage not covered by insurance. In addition, small businesses and non-profit organizations are also eligible for economic injury disaster loans.
 
Program highlights:
  • Disaster loans are for repairing damage that is not covered by insurance
  • Terms are up to 30 years
  • There is no collateral required on loans of $25,000 or less. 
  • The interest rate for a physical disaster loan for businesses of all sizes is as low as 3.75% 
  • The rate for non-profit organizations is 2.75%
  • The interest rate for homeowners and renters is as low as 1.563%
  • The first payment is not due until 5 months from when the final closing documents are signed 
  • Physical disaster loans can be increased by an additional 20% to fund mitigation improvements, such as installing a storm shelter
  • The application deadline for physical disaster loans is June 23
Because of COVID-19 health precautions, the SBA is providing assistance virtually. Apply online at: https://disasterloan.sba.gov/ela/
 
View paper application forms in advance of applying online: https://disasterloan.sba.gov/ela/Information/PaperForms
 
Customer Service Agents can take applications over the phone from 7 a.m.-4 p.m. weekdays at these numbers:  
  • (571) 522-1925 - homeowners and renters
  • (571) 422-6016 - homeowners and renters
  • (404) 909-1535 - businesses
Email applications questions to FOCE-Help@sba.gov