Video: Small Business Administration Offers Loans For Tornado Victims

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COLUMBUS, Miss. (WCBI)-When a natural disaster hits, FEMA is one of the first federal agencies on the ground to help.

However, there’s another team that provides money to help people start the process of rebuilding their lives.

One of the first things Federal Emergency Management Agency did in tornado battered towns in Mississippi, was focus on temporary fixes to help victims.

“We work directly with the state. The state of Mississippi Emergency Management Agency we partner with them. They invite us in and when we come in we bring in other agencies,” says Thomas Kempton.

One such agency is the Small Business Administration. It gives homeowners and renters loans to begin repairs or start rebuilding.

“There were some tornados that devastated the area. Homes aren’t even there. They are just concrete slabs we can offer a loan if they qualify up to 20-thousand dollars for their structural damage. Up to 40-thousand for their personal property which is their contents maybe and or a vehicle,” says Angel Class.

SBA even helps business owners with a loan up to $2 million, with a four percent interest.

“As of yesterday, in the state of Mississippi, SBA has approved 4.3 million dollars a little over that. SO the number is growing but we know there is more people that need assistance so that’s why our urgency to have people register with FEMA and if they haven’t submitted SBA application, please submit the application reason being it’s part of the process,” says Class.

SBA wants natural disaster victims to know even if they don’t qualify for a SBA Loan, they can redirect their information to another organization that may be able to help.

You can submit a form online or fill one out at a Disaster Relief Center near you.