SBA spokesman William Koontz says homeowners can borrow up to $200,000 dollars and the SBA can lend $2 million dollars for businesses.
The agency hope to have centers set up soon, but right now their teams are going around looking for folks. Koontz says they can loan for your deductible, loan for the cost to comply with building codes and more. Loans can be approved within 21 days.
"Some folks might think I can't afford a disaster loan, I've got a loan on my house already or a business. In some cases we can refinance their existing bank loan," says William Koontz, U.S. SBA.
The SBA works hand in hand with FEMA.
To apply for disaster, you can call the SBA at 800-659-2955 or go online at www.sba.gov
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