Residents who received a packet from the SBA should apply for a loan
Published 11:56 am Sunday, September 30, 2012
Pearl River County residents affected by Hurricane Isaac who received an application packet from the Small Business Administration should fill it out and turn it in to stay in the federal assistance program.
SBA Public Affairs Specialist Tamara Jackson said completing and submitting that application will ensure options are available to those who need aid. Even if a homeowner or renter has insurance on losses, the low interest loan can fill gaps where they may be under-insured.
Jackson suggested storm victims fill the application out completely to speed up the process. Jackson said questions about filling out the application can be directed to a local Disaster Recovery Center. Picayune has a DRC located at the National Guard Armory on U.S. Highway 11 near Friendship Park.
Filling out and submitting the application does not obligate an applicant to take out a loan. If the applicant is approved for a loan, but does not want it, Jackson said the loan can be declined.
“We don’t want them feeling like they can’t afford it and not completing it,” Jackson said.
Also, if SBA determines the applicant can not afford a loan, then the applicant’s case will be turned over to FEMA for consideration for grant assistance.
After the application has been submitted, it will take between 14 to 17 days to find out the status of the application, Jackson said.
Applications can also be completed online via the SBA web site at www.sba.gov.