- On September 19, 2018
An estimated quarter of a million homes in North Carolina are projected to be affected by Florence – but only a small percentage are covered by flood insurance that could help offset the costs of rebuilding. Many people think that because their home isn’t in a high-risk zone designated by the government that there’s “zero risk” of a flood – but that is not true at all. Many also don’t realize their basic homeowners’ policy doesn’t cover flood damage. Those without any kind of flood insurance can turn to government assistance programs for relief.
Disaster Assistance through FEMA
If you need help, apply for disaster assistance as soon as possible. If additional assistance is required, call the FEMA helpline at 1-800-621-FEMA. Registration for disaster assistance takes about 18-20 minutes. Items needed to complete the registration include:
- Social Security number
- Financial information
- Contact information
- Insurance information
- Pen and Paper to record ID number
- Electronic funds transfer including: Institution name, Type of account, routing number, account number.
SBA Disaster Loan Assistance
Applying for Small Business Administration (SBA) Disaster loan assistance requires you to be in eligible disaster areas. This means the president and SBA agency have declared your state a major disaster area. To check if your state is a currently declared a disaster click here.
To start an application for SBA Disaster Loan assistance click here. This loan is available to businesses, private nonprofits, homeowners, and renters. In addition to the application you must submit:
- Signed and dated IRS form 4506-T
- Personal Financial statement
- Schedule of liabilities
- Copy of federal income tax return
- Additional information may be required depending on individual circumstances.
Things to keep in Mind
Even if you have received aid from FEMA, the money you received was not intended to pay for all the costs of repairing your damaged home or replacing your property. SBA loans are available to cover the amount of repair costs that have not already been compensated for.
Make sure you do not wait to file a loan application. Even if you are waiting on an insurance settlement, the SBA can approve a loan and adjust the loan eligibility later.
If you are declined assistance from SBA, contact FEMA for Other Needs Assistance (ONA), which includes personal property, vehicle repair or replacement, and moving and storage expenses.