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08/12/2011 U* S* SMALL BUSINESS ADMINISTRATION FACT SHEET - DISASTER LOANS TENNESSEE Declaration 12732 12733 Disaster TN-00056 Incident Severe Storms Tornadoes and Flooding Occurring June 18 2011 through June 25 2011 For Claiborne County and contiguous counties of Campbell Grainger Hancock and Union in the State of Tennessee contiguous counties of Bell and Whitley in the Commonwealth of Kentucky and contiguous Lee County in the Commonwealth of Virginia* Application Filing Deadlines Physical...
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How to fill out disaster loans fact sheet
How to fill out Disaster Loans Fact Sheet
01
Gather all necessary financial documents including tax returns and business information.
02
Identify the type of disaster that has impacted you or your business.
03
Visit the official SBA website or contact your local SBA office for the Disaster Loans Fact Sheet.
04
Fill out the application carefully, ensuring all information is accurate and complete.
05
Provide any supporting documentation requested, such as damage assessments or loss estimates.
06
Review the filled out Fact Sheet for any errors before submission.
07
Submit the Disaster Loans Fact Sheet and necessary documents to the appropriate SBA office.
Who needs Disaster Loans Fact Sheet?
01
Small business owners affected by disasters.
02
Non-profit organizations that have suffered disaster-related losses.
03
Homeowners who need assistance for repairs or rebuilding after a disaster.
04
Individuals and families facing financial hardship due to a declared disaster.
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People Also Ask about
What is the interest rate for a FEMA loan?
Low-interest disaster rates are available. Interest rates are as low as 2.688% for homeowners and renters, 4.0% for businesses and 3.25% for nonprofit organizations. Your first payment will not be due for 12 months, and no interest will accrue during that 12-month period.
What is the maximum FEMA will pay?
Qualifying for an SBA loan is generally easier than a traditional bank loan, but that doesn't mean it's a simple process. Applying for these loans takes a lot of effort, including loads of paperwork. Whether you'll qualify will depend on the type of SBA loan you pursue.
What can an SBA disaster loan not be used for?
Use of proceeds You may not use the funds to upgrade homes or make additions, unless required by the local building code. You may be eligible for up to a 20% loan amount increase above the real estate damage, as verified by SBA, for improvements that will help prevent risk of future property damage.
Is it hard to get approved for an SBA disaster loan?
Qualifying for an SBA loan is generally easier than a traditional bank loan, but that doesn't mean it's a simple process. Applying for these loans takes a lot of effort, including loads of paperwork. Whether you'll qualify will depend on the type of SBA loan you pursue.
Will disaster loans be forgiven?
As of January 2025, there are no plans to forgive outstanding SBA EIDL loans.
What is the interest rate on a FEMA disaster loan?
SBA can offer a loan that fits your personal budget. For applicants unable to obtain credit elsewhere, the interest rates are 2.5 % for home loans, 4.0% for business loans and 2.375% for nonprofit organizations.
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What is Disaster Loans Fact Sheet?
The Disaster Loans Fact Sheet is a document that provides essential information about disaster-related loans, including eligibility, application process, and terms.
Who is required to file Disaster Loans Fact Sheet?
Individuals and businesses affected by a declared disaster who seek financial assistance through disaster loans are required to file the Disaster Loans Fact Sheet.
How to fill out Disaster Loans Fact Sheet?
To fill out the Disaster Loans Fact Sheet, applicants should provide their personal and business information, details about the disaster's impact, and the specific assistance requested.
What is the purpose of Disaster Loans Fact Sheet?
The purpose of the Disaster Loans Fact Sheet is to facilitate the application process for those seeking financial relief after a disaster by summarizing necessary information and requirements.
What information must be reported on Disaster Loans Fact Sheet?
The Disaster Loans Fact Sheet must report information such as the applicant's contact details, type of business or individual status, description of the disaster impact, and requested loan amount.
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