Fire Victims Lose Aid Unless They Apply by March 10th
SHERMAN OAKS, Calif. — Today, Congressman Brad Sherman (CA-32) issued the following statement:
The deadlines for applying for FEMA aid and much of the SBA loans are outrageously short. On Friday, I urged Acting FEMA Administrator Cameron Hamilton to extend these deadlines. This week, I will send a letter to FEMA and SBA, signed by dozens of my California Congressional colleagues, urging an extension until December 31. The SBA normally follows the FEMA deadlines. Unless FEMA acts, fire victims will lose aid unless they apply by March 10. Even if you do not know if you will be eligible, apply now on both the FEMA and SBA websites.
FEMA Grant Assistance to a Household:
-FEMA Individual Assistance – Serious Needs Assistance Grants: $770 onetime payment to afford immediate needs like food, water, hygiene, and transportation.
-FEMA Individual Assistance – For Housing: The maximum amount a homeowner can receive through the FEMA Individual Assistance grant program for home repair and replacement, and for temporary housing, is up to $43,600.
Depending on your situation, substantial rental assistance may also be available.
-If you submit the application for assistance with FEMA and you have insurance, you may receive a message that your assistance was “not approved.” If you have insurance that does not fully cover all of your costs (under-insured), you are still eligible for FEMA assistance. You will need to provide additional information to show that your insurance will not cover all of your costs. I have worked with FEMA to provide an updated, clarified letter, and to reduce the paperwork and delay for those who are under-insured.
-FEMA Individual Assistance – For Other Needs: Another $43,600 is available in the form of a grant from FEMA to cover medical expenses, damage to a vehicle, household items/property, funeral expenses, moving/storage, and childcare expenses, etc. (Serious Needs Assistance grants of $770 count against this $43,600 maximum.)
To apply for FEMA assistance visit https://www.disasterassistance.gov/.
The deadline to apply for FEMA assistance is March 10, 2025
Small Business Administration (SBA) Loans for Homeowners and Renters:
SBA loans can cover up to $100,000 of personal property loss (i.e. furniture, clothing, automobiles) and up to $500,000 of a homeowner’s real property loss (i.e. home repair).
Second homes and vacation homes not eligible. Loans are for up to 30 years; first payment and interest accrual deferred for the first 12 months. The interest rate is 4% or less unless credit can be obtained elsewhere. If credit could be obtained elsewhere, then interest rate is 8% or less.
Small Business Administration (SBA) Loans for Businesses:
SBA Physical Damage Loans: Loans up to $2 million for businesses and nonprofits for uninsured physical damage and losses. First payment and interest accrual deferred for the first 12 months. The interest rate is 4% or less and term is up to 30 years unless credit can be obtained elsewhere. If credit could be obtained elsewhere, then interest rate is 8% or less and term is up to 7 years.
SBA Economic Injury Disaster Loans [Later Deadline Applies]: Loans up to $2 million for businesses and nonprofits with economic injury (such as lost sales) as the result of the disaster. Only available when Small Business Administration determines a recipient is unable to obtain credit elsewhere. Loans are for up to 30 years; first payment and interest accrual deferred for the first 12 months. The interest rate is 4% or less.
The combined loan amount across both SBA programs may not exceed $2 million.
To apply for SBA loans visit https://www.sba.gov/funding-programs/disasterassistance/california-wildfires.
The filing deadline to return applications for physical property damage is March 10,2025.
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