In Presidentially-declared Federal Disaster Areas, a variety of low-interest loans are available for homeowners, business owners, and renters.
If your area is declared a Federal Disaster Area, the following loans may be available:
Small Business Administration Loans - Not Just for Business Owners
Homeowners can apply for a loan to repair or replace their home. You may be able to refinance existing liens on the property. Renters and homeowners can borrow money to replace clothing, furniture, cars, etc.
Business Disaster Loans
Non-profits and For-Profit Businesses of any size can qualify for loans of up to $2 million to repair or replace damaged real property, equipment, and inventory. Even if your business wasn't physically damaged, you may qualify for assistance due to the economic impact on your business. The Small Business Administration has set up an information center for flood victims at TSU's downtown Nashville campus. It is open from 8am-7pm Monday through Saturday.
Mortgage Insurance for Disaster Victims and Rehabilitation Mortgage Insurance
Homeowners may qualify for assistance to buy new homes, rebuild damaged homes, convert property to other uses, or even rehabilitate property that has non-residential uses.