FEDERAL MONEY: Up to $200k for homes, rentals, cars damaged; Up to $2M for businesses

FEMA Individual Assistance Available:

President Biden approved Governor Lou Leon Guerrero’s request for Individual Assistance from the Federal Emergency Management Agency (FEMA), which provides grants for homeowners and renters like rental assistance and money for home repairs. FEMA inspectors will perform home by home assessments to initiate the process to provide direct relief to our people.

Register with FEMA by calling 1-800-621-3362, visiting disasterassistance.gov or downloading the application on the FEMA App. For more information about registration, processing and FEMA’s Individual Assistance Programs, visit fema.gov.

In-person application sites are anticipated to be announced soon.

 

SBA Low-Interest Federal Disaster Loans Available

The Small Business Association (SBA) advised low-interest federal disaster loans are now available to Guam businesses and residents as a result of President Biden’s major disaster declaration. The declaration covers Guam as a result of Typhoon Mawar that began May 22.

Businesses of all sizes and private nonprofit organizations may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other business assets. SBA can also lend additional funds to businesses and homeowners to help with the cost of improvements to protect, prevent or minimize the same type of disaster damage from occurring in the future.

For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size, SBA offers Economic Injury Disaster Loans to help meet working capital needs caused by the disaster. Economic injury assistance is available to businesses regardless of any property damage.

Disaster loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for up to $40,000 to repair or replace damaged or destroyed personal property, including personal vehicles.

Interest rates can be as low as 4 percent for businesses, 2.375 percent for private nonprofit organizations and 2.5 percent for homeowners and renters with terms up to 30 years. Loan amounts and terms are set by SBA and are based on each applicant’s financial condition.

To be considered for all forms of disaster assistance, survivors must first contact the Federal Emergency Management Agency at www.disasterassistance.gov. As soon as Federal-Territory Disaster Recovery Centers open throughout the affected area, SBA will provide one-on-one assistance to disaster loan applicants. Additional information and details on the location of disaster recovery centers is available by calling the SBA Customer Service Center at (800) 659-2955.

 

Business Sector Disaster Damage Assessments Underway

The Bureau of Statistics and Plans (BSP) is conducting the Business Sector Disaster Damage Assessment (BSDDA) of the damages to business establishments that have been caused by Typhoon Mawar.

For more information regarding this survey contact the BSP at (671) 472-4201/2/3.

 

Farmers’ Damage Assessments Underway:

The Department of Agriculture (DOAG) teams are conducting Preliminary Damage Assessments (PDA) with farmers that are registered with DOAG. The result of the PDA will help determine what assistance programs, if any, can be brought in to support our local farmers. Farmers that suffered crop loss are requested to document their losses and contact DOAG at 671-300-7972-73. Farmers can also visit [email protected] for more information.