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SBA Offers Disaster Assistance to Residents of Tennessee Affected by Wildfires


WASHINGTON – The U.S. Small Business Administration’s Administrator Maria

Contreras-Sweet issued the following statement after the announcement of the Presidential

disaster declaration for Sevier County, Tennessee affected by wildfires on

Nov. 28 – Dec. 9, 2016:

“The U.S. Small Business Administration is strongly committed to providing the people of

Tennessee with the most effective and customer-focused response possible to assist businesses,

homeowners and renters with federal disaster loans. Getting businesses and communities up and

running after a disaster is our highest priority at the SBA.”

The disaster declaration covers Sevier County in Tennessee which is eligible for both Physical

and Economic Injury Disaster Loans from the SBA. Small businesses and most private nonprofit

organizations in the following adjacent counties are eligible to apply only for SBA Economic

Injury Disaster Loans: Blount, Cocke, Jefferson and Knox in Tennessee; Haywood and Swain

counties in North Carolina.

Businesses and private nonprofit organizations of any size may borrow up to $2 million to repair

or replace disaster damaged or destroyed real estate, machinery and equipment, inventory, and

other business assets. Applicants may be eligible for a loan amount increase up to 20 percent of

their physical damages, as verified by the SBA, for mitigation purposes. Eligible mitigation

improvements may now include a safe room or storm shelter to help protect property and

occupants from future damage caused by a similar disaster.


For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture

and most private nonprofit organizations, the SBA offers Economic Injury Disaster Loans to help

meet working capital needs caused by the disaster. Economic Injury Disaster Loan assistance is

available regardless of whether the business suffered any physical property damage.

Disaster loans up to $200,000 are available to homeowners to repair or replace disaster damaged

or destroyed real estate. Homeowners and renters are eligible up to $40,000 to repair or replace

disaster damaged or destroyed personal property.


Interest rates are as low as 3.125 percent for businesses and 2.5 percent for nonprofit

organizations 1.5 percent for homeowners and renters with terms up to 30 years. Loan amounts

and terms are set by the SBA and are based on each applicant’s financial condition.

Applicants may apply online using the Electronic Loan Application (ELA) via the SBA’s secure

website at https://disasterloan.sba.gov/ela.

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.

Additional details on the locations of Disaster Recovery Centers and the loan application process

can be obtained by calling the SBA Customer Service Center at 800-659-2955 (800-877-8339

for the deaf and hard-of-hearing) or by sending an e-mail to disastercustomerservice@sba.gov.

The filing deadline to return applications for physical property damage is Feb. 12, 2017. The

deadline to return economic injury applications is Sept. 15, 2017.

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list of Public Chapters with an effective date of 1-1-2017.