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People also ask
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Do you have to pay back FEMA SBA loan?
For disasters declared on or after March 22, 2024, you may choose to complete an SBA disaster loan application and it will not impact your eligibility for FEMA assistance. If you are approved for a loan, you are not obligated to accept it. Funds you get from SBA must be repaid over time.
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What is SBA in FEMA?
The Small Business Administration (SBA) offers low-interest loans after a declared disaster. The loans can help businesses of all sizes, nonprofit organizations, and individual households. The loans can pay for: Repair or replacement of physical damages. Personal property.
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Why did FEMA refer me to an SBA loan?
FEMA works with SBA if you have additional unmet needs. Loans may help with home repair or replacement, personal property, vehicles, mitigation, business losses, and working capital for small business and most private nonprofits. If you are approved for a loan, you are not obligated to accept it.
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What is SBA with FEMA?
The Small Business Administration (SBA) offers low-interest loans after a declared disaster. The loans can help businesses of all sizes, nonprofit organizations, and individual households. The loans can pay for: Repair or replacement of physical damages.
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