I have registered online with FEMA due to the amount of damage my home received during Ike. Last night I received an application from the SBA (Small Bussiness Administration) for a low interest loan at 5.75%. This is a government run organization, so I am not worried about a scam. But I am worried that if I register for a loan with the SBA will I be taken out of cosideration for any financial relief from FEMA. My insurance deductible is 2.5 grand for hurricane (non-flood) damage, and it is my understanding that FEMA will reimburse those in a disaster area for any disaster related fees insurance will not be picking up... Any insight is greatly appreciated...
In order for FEMA to give you anything, you have to exhaust all other options. That includes making an insurance claim and, in some cases, applying for an SBA loan. They are sending a lot of people to SBA. The way I understand it is that if FEMA thinks you might qualify for a loan, then they will not give you anything unless/until you are rejected for an SBA loan.
I am not going to fill out the loan application until the insurance adjuster comes by, if at all. We had qualified for housing assistance, though none was needed, so I do believe we qualify for some FEMA relief once the insurance process takes it's course. In discussions with our insurance company, they had even mentioned that FEMA would be reimbursing some of our non-covered fees. Hence the confusion with the SBA loan...I had just assumed that the loan route might just be a faster option for people not willing to wait on the government assistance.
in regards to FEMA, they called me about the housing assistance two days after we filed online. At that point we had gotten power back earlier in the day (wednesday last week). We contacted our insurance company the Monday after the storm. I think the adjuster called us Friday that same week to say he would be out there in 5-10 days. I am still yet to set up a definite date with him. Our insurance company has contaced us on a couple of occasions just as a reminder that there is a pretty big line right now, and they will be getting to everyone asap.
yea...anyone with damage to their home should apply. unfortunately they are very vague in their description of assistance, so it is hard to get an understanding of what to expect...
sorry for the double post. but here is some additional clarification, which more or less contradicts my previous statement. does anyone know the actual scope of what is considered the "disaster zone" area?