Homeowners and renters who suffered damages to their homes and personal property following a declared disaster by the president or the SBA administrator may apply for disaster loan assistance online. Businesses and nonprofit organizations can also go online to apply for assistance to cover losses to real estate and property as well as economic injury.
The electronic loan application contains a feature that automatically checks errors and prompts applicants when additional information is needed, guaranteeing a quicker loan-processing and decision time frame, according to the SBA. On-screen help includes a glossary to explain terms that may be unfamiliar to the applicant.
Paper disaster loan applications will still be mailed to disaster victims, which will include directions to the SBA's electronic loan application Web site. The agency said when users enter the site, a secure encrypted connection is established. Identity-proofing devices are also used in the application, which include the use of two pass codes by the applicant.
The electronic loan application can be accessed at www.disasterloan.sba.gov.
--msamaad@cutimes.com
