Now, more than a month after of Typhoon Mawar devastated the island territory, Guam residents continue down their road to recovery with the help of federal funding from the U.S. Small Business Administration and FEMA. To date, nearly $112 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.
Small Business Administration
The U.S. Small Business Administration has approved more than $62.2 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 651 disaster loans totaling nearly $59.2 million dollars. These loans can be used to repair or replace a survivor’s disaster damaged home and personal property. Additionally, 45 businesses and private non-profits have been approved for loans totaling more than $3 million. These funds will help these businesses and organizations recover by replacing real estate, machinery and equipment, and inventory and business assets.
Individuals and Households Program
As of July 11, 2023
When it comes to FEMA assistance, more than 16,000 homeowners and renters have been approved for more than $49.7 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:
* More than $11 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 $14.5 million in rental assistance was provided to more than 4,700 applicants. FEMA rental assistance is intented 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
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. More than $24.3 million in ONA 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.
If you haven’t applied for federal disaster assistance yet or need to update a pending application contact FEMA by visiting disasterassistance.gov, by using the FEMA mobile app, or by calling 800-621-3362 (The Helpline is available 24 hours a day/ 7 days a week at no cost for Guam residents).
For information on Guam’s disaster recovery, visit our website.
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Source: Department of Homeland Security, Federal Emergency Management Agency