Washington, Oct. 25, 2021 (GLOBE NEWSWIRE) -- U.S. Small Business Administration Administrator Isabella Casillas Guzman announced today that the agency has delivered more than $1 billion in disaster rescue funds to small businesses, homeowners, renters, and private nonprofit organizations recovering from damages caused by Hurricane Ida in September.
“Hurricane Ida left a trail of damage, and the SBA swiftly deployed its disaster teams across seven states to help countless small businesses, nonprofits, and individual residents get the financial support needed to rebuild,” said Administrator Guzman. “The SBA continues to scale to ensure disaster-impacted communities can focus on recovery and powering our nation’s economy.”
As of October 25, the SBA Office of Disaster Assistance (ODA) has approved more than 20,600 low-interest disaster loans delivering a combined $1 billion in financial assistance to areas impacted by Hurricane Ida. The SBA is rapidly processing applications and will continue working to meet the needs of all those affected by this disaster.
Businesses, homeowners, renters, and private nonprofit organizations in 67 counties and parishes across Georgia, Louisiana, Maryland, Mississippi, New Jersey, New York, and Pennsylvania are eligible to apply for low-interest disaster loans to help repair the physical damage caused by Hurricane Ida. The deadline for residents of Louisiana impacted by Hurricane Ida to apply for financial assistance is October 28, 2021. Those that have not applied to receive aid yet are encouraged to apply as soon as possible.
The SBA’s disaster loan program is the only federal assistance program that provides private property owners an affordable way to protect their homes, families, businesses, employees, and livelihoods against the next disaster. Funds received from these loans can be used by property owners to build back better, stronger, and more resilient. The owners of private property impacted by natural disasters, like Hurricane Ida, are eligible for up to 20% of their total physical losses, as verified by SBA, to incorporate protective measures to protect them against the next disaster.
In addition, businesses and private nonprofit organizations can apply for Economic Injury Disaster Loans (EIDL) to help meet working capital needs caused by the disaster. For more information about the counties and parishes impacted, visit www.disasterloanassistance.sba.gov/ela/s/search-declarations.
Hurricane Ida disaster assistance adds to a growing total of SBA-funded recovery efforts this year, as the SBA has now approved more than $285 billion to help residents across all 50 states and five territories rebuild and recover from COVID-19 and other natural disasters, including multiple hurricanes, floods, and wildfires through EIDL loans. Recognizing the risk to small businesses, homeowners, residents and wildlife, the Biden-Harris Administration has put climate change at the forefront of its priorities.
Ongoing SBA Office of Disaster Assistance (ODA) Actions:
As of October 2021, ODA personnel are responding to six open Presidential disaster declarations, 13 SBA Administrative disaster declarations, two Governors’ certifications, 183 Secretary of Agriculture declarations, and one Military Reservist Economic Injury Disaster Loan declaration.
SBA’s ODA assists with disaster recovery in all 50 states, Washington, D.C., and the five U.S. territories of American Samoa, Guam, Northern Mariana Islands, Puerto Rico, and the U.S. Virgin Islands.
Affected businesses and individuals may continue to apply online using the Electronic Loan Application (ELA) via SBA’s secure website at www.sba.gov/disasterassistance and should apply under SBA declaration #17147, not for the COVID-19 related Economic Injury Disaster Loan.
Questions about disaster loans can be emailed to DisasterCustomerService@sba.gov or directed to SBA’s Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the deaf and hard of hearing).
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About the Office of Disaster Assistance
The Office of Disaster Assistance (ODA) helps businesses of all sizes, private nonprofit organizations, homeowners, and renters recover from the devastation caused by federally declared disasters. Their efforts ensure that adequate and affordable financial assistance is rapidly extended to those in need. The disaster loan program is the only form of SBA assistance not limited to small businesses. ODA has been part of the agency since its inception in 1953. To learn more, visit www.sba.gov/disasterassistance.
About the U.S. Small Business Administration
The U.S. Small Business Administration makes the American dream of business ownership a reality. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.
