By Pacific Island Times News Staff
While the application period for federal assistance has ended, federal assistance continues to make its way into the hands of Guam survivors of Typhoon Mawar.
To date, more than $201 million in low-interest disaster loans from the SBA and direct disaster assistance through FEMA have flowed into communities to help jumpstart the recovery process.
As of Aug. 3, the U.S. Small Business Administration has approved nearly $139.4 million in low-interest disaster loans. The SBA is the number one source of federal disaster recovery funding. Through low-interest disaster loans the SBA provides recovery loans to businesses of all sizes, private non-profit organizations, homeowners, and renters.
For homeowners and renters, the SBA has approved 1,375 disaster loans totaling more than $127.7 million dollars. These loans can be used to repair or replace a survivor’s disaster-damaged home and personal property.
Additionally, 111 businesses and private non-profits have been approved for loans totaling nearly $11.7 million. These funds will help these businesses and organizations recover by replacing real estate, machinery and equipment, and inventory and business assets.
When it comes to FEMA assistance, more than 19,000 homeowners and renters have been approved for nearly $62.3 million in federal awards through FEMA’s Individuals and Households Program.
Unlike SBA loans, this money does not have to be paid back. This includes:
Nearly $33.4 million in repair and replacement assistance to help survivors rebuild, or make basic repairs to make their home safe, sanitary and functional and provide funds to owners whose primary residences were destroyed due to Typhoon Mawar.
Nearly $17.5 million in rental assistance was provided to nearly 5,600 applicants. FEMA rental assistance is intended to help survivors pay for somewhere to live while they repair or rebuild their disaster-damaged home. FEMA awards eligible applicants an initial Rental Assistance payment based on the Fair Market Rent established by the U.S. Department of Housing and Urban Development (HUD) for where their pre-disaster residence is located and the number of bedrooms the household requires.
Other Needs Assistance provides financial assistance for disaster-related necessary expenses and serious needs that are not covered by insurance or provided by any other source.
Nearly $28.9 million in assistance under this category has been awarded to Guam survivors. This includes critical needs assistance, transportation assistance, personal property assistance, moving and storage, disaster-related medical and dental assistance and money to clean and sanitize a disaster-damaged home.
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