Federal Disaster Assistance Available for Storm Damage Losses Through Small Business Administration

Lake Wales area homeowners and business owners are eligible for Federal disaster relief following a declaration of disaster by President Joe Biden. The Small Business Administration (SBA) is preparing to render federal disaster assistance as quickly as possible to Polk County's small business owners and critical disaster relief to homeowners.

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 for up to $40,000 to repair or replace disaster-damaged or destroyed personal property.

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.

For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations, the SBA offers Economic Injury Disaster Loans (EIDLs) 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.

To be considered for all forms of disaster assistance, applicants should register online at 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.

The filing deadline to return applications for physical property damage is Nov. 28, 2022. The deadline to return economic injury applications is June 29, 2023.

Applicants may apply online today using SBA declaration #17644. The Electronic Loan Application (ELA) is accessible on the SBA's secure website at https://disasterloanassistance.sba.gov/ela/s/