SBA Approves Over $6 Million Disaster Loans in Tennessee;
Applications for Physical Damage Due by Feb. 13
ATLANTA – The U.S. Small Business Administration announced that over $6 million in low-interest
disaster loans have been approved for Tennessee businesses and residents affected by wildfires from
Nov. 28 through Dec. 9, 2016.
“Whether you have wildfire damage to your rental property, shop, restaurant, home or contents, an SBA
disaster loan can provide an affordable way to restore or repair property and resume normalcy,” said
Frank Skaggs, director of SBA’s Field Operations Center East in Atlanta. “I encourage anyone who has
not submitted an SBA disaster loan application to do so before the Feb. 13, 2017 deadline for physical
damages.”
Economic injury disaster loans are also available to provide disaster related working capital to small
businesses and most private nonprofit organizations. These working capital loans may be used to pay
fixed debts, payroll, accounts payable, and other bills that could have been paid had the disaster not
occurred.
SBA disaster loans are available to businesses of all sizes, most private nonprofit organizations,
homeowners and renters to cover uninsured losses from the disaster. Interest rates are as low as 3.125
percent for businesses, 2.5 percent for private nonprofit organizations, and 1.5 percent for homeowners
and renters. Loan terms can be up to 30 years.
To be considered for all forms of disaster assistance, applicants should register online at
www.DisasterAssistance.gov or download the FEMA mobile app. If online or mobile access is
unavailable, applicants should call the FEMA toll-free helpline at 800-621-3362. Those who use
711-Relay or Video Relay Services should call 800-621-3362.
Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at
https://disasterloan.sba.gov/ela. Disaster loan information and application forms may also be obtained by
calling the SBA’s Customer Service Center at 800-659-2955 (800-877-8339 for the deaf and hard-of-
hearing) or by sending an email to disastercustomerservice@sba.gov.
Loan applications can be downloaded from www.sba.gov/disaster. Completed applications can be
returned to a recovery center or mailed to: U.S. Small Business Administration, Processing and
Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
The filing deadline to return applications for physical property damage is Feb. 13, 2017. The deadline to
return economic injury applications is Sept. 15, 2017.
