Disaster recovery center set up at Cole Fire Department parking lot

The Federal Emergency Management Agency (FEMA) and the Small Business Administration (SBA) have set up a disaster recovery center in the parking lot of the Cole Fire Department.

The center opened Monday with hours seven days a week from 8:30 a.m. to 7:30 p.m.

Both FEMA and SBA disaster recovery staff will be on hand to assist those impacted by the declared disaster of April 19.

Residents and businesses can get assistance to walk through the recovery application process and get a clear understanding of what grants and low-interest loans for which they may be eligible.

SBA works hand-in-hand with FEMA and provides the majority of long-term recovery funds for residents to rebuild and recover to as close to pre-disaster conditions as possible.

SBA officials report most people don’t realize the majority of disaster relief recovery funds are loaned to homeowners and renters for funds to replace their primary residence, personal property and personal vehicles.

There is no cost to apply and no obligation to accept the loan or any more funds than the applicant may want to borrow.

Loans are very low interest and may be for terms of either 15 or 30 years. For the first year after receiving funds there is no interest that accrues.

SBA officials report if an applicant is denied a loan due to lack of ability to repay or unsatisfactory credit history those applicants are referred back automatically to FEMA to be considered for additional grant assistance.

With questions call 800 659-2955 about completing the application or its’ status.

Businesses of any size may borrow up to $2 million to repair or replace disaster damaged property.

Homeowners may borrow up to $200,000 to repair or replace their primary residence and homeowners and renters may borrow up to $40,000 to replace personal property including vehicles.

What you need to do

Register with FEMA at www.disasterassistance.gov. That’s the fastest way to register for help.

Homeowners and renters should submit their SBA disaster loan application even if they are not sure they will need or want the loan.

Three ways to apply to SBA

Apply online at SBA’s secure website at https://disasterloan.sba.gov/ela or apply in person at the disaster recovery center.

You may also apply by mail by sending completed  paper application to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, Texas 76155.