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~ Juneau, Alaska - The Federal Emergency Management Agency (FEMA) has announced a partnership with the U.S. Small Business Administration (SBA) to provide assistance to residents affected by the recent Mendenhall Glacier Flooding. The SBA will be offering low-interest federal disaster loans to both businesses and individuals impacted by the disaster.
According to previous major disasters, 80% of SBA loans have been approved for homeowners and renters. This program is the largest source of funds available to help cover disaster losses that are not covered by insurance or other programs. This may include deductibles and increased costs of compliance, such as building code requirements.
Residents in the City and Borough of Juneau who have been impacted by the flooding are eligible to apply for these loans. It is important for survivors to not wait for an insurance settlement before submitting an SBA loan application.
One of the benefits of these loans is that no interest will accrue until 12 months from the date of the first disbursement. Additionally, no payment will be due until 12 months from the first loan disbursement.
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Homeowners may be eligible for a disaster loan of up to $500,000 for primary residence repairs or rebuilding. The SBA may also be able to assist with up to $100,000 for replacing personal property, including automobiles, that were damaged or destroyed in the disaster.
Applicants can apply online at SBA.gov/disaster and find additional information about disaster assistance. The deadline to apply for property damage is December 16, 2024, while the deadline for economic injury is July 16, 2025. It is important to note that if an application is approved, there is no obligation to accept an SBA loan.
For those who need one-on-one assistance with their disaster loan application, SBA representatives will be available at the FEMA Disaster Recovery Center (DRC). The DRC at Mendenhall Valley Public Library is open from 10 a.m. to 6 p.m. Tuesday through Friday and 10 a.m. to 5 p.m. on Saturdays. The center is accessible to individuals with disabilities or access and functional needs and is equipped with assistive technology.
Applicants can also call the SBA's Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information. For those who are deaf, hard of hearing, or have a speech disability, they can dial 7-1-1 to access telecommunications.
The SBA's low-interest federal disaster loans provide much-needed assistance to those affected by the Juneau Mendenhall Glacier Flooding. Residents are encouraged to take advantage of this opportunity and apply for the loans before the deadlines.
According to previous major disasters, 80% of SBA loans have been approved for homeowners and renters. This program is the largest source of funds available to help cover disaster losses that are not covered by insurance or other programs. This may include deductibles and increased costs of compliance, such as building code requirements.
Residents in the City and Borough of Juneau who have been impacted by the flooding are eligible to apply for these loans. It is important for survivors to not wait for an insurance settlement before submitting an SBA loan application.
One of the benefits of these loans is that no interest will accrue until 12 months from the date of the first disbursement. Additionally, no payment will be due until 12 months from the first loan disbursement.
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Homeowners may be eligible for a disaster loan of up to $500,000 for primary residence repairs or rebuilding. The SBA may also be able to assist with up to $100,000 for replacing personal property, including automobiles, that were damaged or destroyed in the disaster.
Applicants can apply online at SBA.gov/disaster and find additional information about disaster assistance. The deadline to apply for property damage is December 16, 2024, while the deadline for economic injury is July 16, 2025. It is important to note that if an application is approved, there is no obligation to accept an SBA loan.
For those who need one-on-one assistance with their disaster loan application, SBA representatives will be available at the FEMA Disaster Recovery Center (DRC). The DRC at Mendenhall Valley Public Library is open from 10 a.m. to 6 p.m. Tuesday through Friday and 10 a.m. to 5 p.m. on Saturdays. The center is accessible to individuals with disabilities or access and functional needs and is equipped with assistive technology.
Applicants can also call the SBA's Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information. For those who are deaf, hard of hearing, or have a speech disability, they can dial 7-1-1 to access telecommunications.
The SBA's low-interest federal disaster loans provide much-needed assistance to those affected by the Juneau Mendenhall Glacier Flooding. Residents are encouraged to take advantage of this opportunity and apply for the loans before the deadlines.
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