Fairbanks North Star Borough, Alaska businesses and residents were affected by severe winter storms on 1/1/2022 through 1/4/2022. The Small Business Administration (SBA) is offering financial disaster assistance for Fairbanks North Star Borough, Alaska businesses that suffered physical damage or economic injury and loss to their AK business operations located in Fairbanks North Star Borough.
SBA Loan Deadlines for the Fairbanks North Star Borough, Alaska Declared Disaster Declaration #17420
– Economic Injury Disaster Loan (EIDL) Application filing deadline is 1/23/2023.
– Read the official SBA disaster declaration for Fairbanks North Star Borough here.
Business Owners in Fairbanks North Star Borough, for speed and personalized attention, Schedule Your Free Disaster Loan Consultation call. Depending on your situation, we may be able to assist you with the SBA process for your business in Fairbanks North Star Borough Alaska.
Severe Winter Storms Incident in Fairbanks North Star Borough AK
On 1/1/2022 through 1/4/2022, a Severe Winter Storms bad weather incident caused damage in areas of Alaska. Disaster Number AK-00051 was declared on 4/22/2022 as an official disaster area through Disaster Declaration #17420 due to Severe Winter Storms.
Fairbanks North Star Borough, Alaska Cities and Towns Affected by Severe Winter Storms
Here is a list of all the Fairbanks North Star Borough, Alaska cities, towns, parishes, and municipalities affected by the Severe Winter Storms that occurred 1/1/2022 through 1/4/2022:
Ester, Fairbanks, Fort Wainwright, North Pole, Salcha, Two Rivers.
In Fairbanks North Star Borough, Alaska, eligible businesses and residents are able to apply for a low-interest disaster loan from the U.S. Small Business Administration (SBA), commonly known as an SBA Economic Injury Disaster Loan (EIDL). The SBA offers disaster loan assistance to businesses, nonprofit organizations, homeowners, and renters located in Fairbanks North Star Borough, Alaska, that were affected by the declared disaster number AK-00051.
The SBA also provides eligible Fairbanks North Star Borough, Alaska small businesses and nonprofit organizations with working capital to help overcome the economic injury of the declared disaster in Fairbanks North Star Borough, Alaska.
To apply for financial assistance from the SBA for your business that was affected by Severe Winter Storms in Fairbanks North Star Borough, visit the official SBA Disaster Loan Assistance website.
Physical Damage to Your Fairbanks North Star Borough Business Property
Fairbanks North Star Borough, Alaska businesses and private nonprofit organizations of any size may borrow an SBA EIDL loan up to a $2 million (two million dollars) to repair or replace disaster-damaged or destroyed real estate, machinery and equipment, inventory, and other business assets.
Applicants in Fairbanks North Star Borough, Alaska may be eligible for an EIDL loan increase up to 20% (twenty percent) of their physical damages, as verified by the SBA, for mitigation purposes. Eligible mitigation improvements may include a sump pump, elevation, French drain or retaining wall to help protect property and occupants from potential future damage that could be caused by a similar disaster in Fairbanks North Star Borough, Alaska.
Economic Injury to Your Fairbanks North Star Borough Business Operations in Alaska
For Fairbanks North Star Borough small businesses, companies, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations, the SBA offers Economic Injury Disaster Loans (EIDL) to help meet working capital needs caused by the disaster. Economic Injury Disaster Loan assistance is available regardless of whether the business suffered any physical damage to property.
Interest Rates for SBA EIDL Fairbanks North Star Borough, Alaska Disaster Loans
Interest rates for Fairbanks North Star Borough, Alaska are as low as 2.940% (two point nine four zero percent) for businesses, 1.875% (one point eight seven five percent) for nonprofit organizations, with loan amortization terms up to 30 years or 360 months. Loan amounts and terms are set by the SBA and are based on each applicant’s financial condition of their business located in Alaska.
Fairbanks North Star Borough SBA Loan Interest Rates for Physical Damage:
– Alaska Businesses with Credit Available Elsewhere 5.880%
– Businesses in Alaska without Credit Available Elsewhere 2.940%
– Alaska Non-Profit Organizations with Credit Available Elsewhere 1.875%
– Non-Profit Organizations in Alaska without Credit Available Elsewhere 1.875%
Fairbanks North Star Borough SBA Loan Interest Rates for Economic Injury:
– Businesses and Companies in Alaska 2.940%
– Small Alaska Agricultural Cooperatives without Credit Available Elsewhere 2.940%
– Alaska Non-Profit Organizations without Credit Available Elsewhere 1.875%
Fairbanks North Star Borough Business Owners, Schedule Your Free Disaster Loan Consultation Call for One-on-One Assistance for Your Company that was Affected by Severe Winter Storms in Fairbanks North Star Borough, AK.
Fairbanks North Star Borough, Alaska Disaster Assistance From FEMA
If your Fairbanks North Star Borough, Alaska business was impacted by Severe Winter Storms, and is located in one of the communities approved for assistance from the Federal Emergency Management Agency (FEMA), you can apply for disaster assistance.
Check to see if Fairbanks North Star Borough, Alaska is approved by FEMA by visiting DisasterAssistance.gov or by calling 1-800-621-3362 between the hours of 7am to 11pm Eastern Standard Time (EST) seven days a week.
For other possible Fairbanks North Star Borough, Alaska disaster assistance resources, or to apply for assistance from FEMA, visit the official FEMA website.
Fairbanks North Star Borough SBA EIDL Loan Relief vs. FEMA Assistance Facts for Alaska
For Fairbanks North Star Borough businesses in Alaska, an SBA EIDL loan holds many benefits for recovering from the Severe Winter Storms that caused damage to your physical property and economic injury to your business on 1/1/2022 through 1/4/2022.
Will I be referred to the SBA after I apply with FEMA?
Yes it is possible. After you apply for disaster assistance from FEMA, you may be contacted by the SBA. If you are asked to submit an application for a low-interest SBA loan, you are encouraged to do so. Applying with the SBA assures that all available disaster assistance options remain open to you.
Will the SBA application be the basis of referrals to other grant programs?
Yes. Submitting the application makes it possible for you to be considered for additional grants. If you apply for an SBA low-interest disaster loan and are not eligible, this may open the door to additional assistance from FEMA. If SBA denies the loan application, you may be eligible for additional FEMA grant assistance to replace essential household items, replace or repair a damaged vehicle, cover storage expenses, or meet other disaster-related needs your Fairbanks North Star Borough, Alaska home or business has suffered.
Do I have to accept an SBA loan if I am approved?
No you do not. If the SBA determines you are eligible for a loan, you do not have to accept it. However, if you do qualify for an SBA loan and you choose not to accept it, additional resources may not be available to you for disaster recovery.
Do I have to choose between a FEMA or an SBA EIDL loan?
No. Qualifying for an SBA EIDL loan does not mean you are suddenly ineligible for FEMA assistance. There are several important reasons to complete and submit an SBA application, even if you think you don’t currently need a loan for your Fairbanks North Star Borough, Alaska home or business. For example, you may discover that you were underinsured for the amount of work required to repair or replace your home. An SBA low-interest disaster loan may bridge the gap between your recovery costs and the settlement amount.
Are SBA EIDL loans only meant for businesses?
No. Due to the Severe Winter Storms being a natural disaster, the SBA also offers loans for homeowners in Fairbanks North Star Borough, Alaska up to $200,000 to repair or replace your primary residence. The loans are customized to your personal financial circumstances. On a case-by-case basis, the SBA may be able to assist with the refinance of your current mortgages, in the case of a first mortgage, and / or a second mortgage.
The SBA can also help Fairbanks North Star Borough, Alaska renters and homeowners replace household contents, for example: clothing, furniture, appliances, and vehicles. This is referred to as personal property. Homeowners and renters are eligible for up to $40,000 (forty thousand dollars) to repair or replace damaged or destroyed personal property caused by Severe Winter Storms.
Are SBA loans available for businesses and nonprofits of any size?
Yes. Due to the Severe Winter Storms declared disaster, Fairbanks North Star Borough, Alaska businesses of all sizes and private nonprofit organizations may borrow up to $2 million (two million dollars) to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other business assets. The 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 in Fairbanks North Star Borough, Alaska, the 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.
Population of Fairbanks North Star Borough in Alaska
Fairbanks North Star Borough has a population of 95,593 residents (2021 Census figures), which is a change of -0.1% in population from the 2020 Census numbers. The State of Alaska has a current total population of 732,673. This is a -0.1% change in the number of residents in AK.
The Federal Information Processing System (FIPS) Code for the State of Alaska is 02000. The FIPS code for Fairbanks North Star Borough, AK is 02090.
Fairbanks North Star Borough Official Government Website in Alaska
The official website for the Fairbanks North Star Borough, AK government can be found here:
https://fnsb.gov
Check the Fairbanks North Star Borough website for other possible disaster relief options for residents and businesses located in Fairbanks North Star Borough, Alaska.
Other Alaska Counties Affected by the Severe Winter Storms Disaster
Besides Fairbanks North Star Borough, other counties that were affected by Severe Winter Storms in Alaska were:
Alaska Primary Counties
Delta/Greely REAA, Matanuska-Susitna Borough.
Alaska Contiguous Counties
Alaska Gateway REAA, Chugach REAA, Copper River REAA, Denali Borough, Fairbanks North Star Borough, Iditarod Area REAA, Kenai Peninsula Borough, Municipality of Anchorage.
Alaska Cities Located in Fairbanks North Star Borough
Ester, Fairbanks, Fort Wainwright, North Pole, Salcha, Two Rivers.
Summary and Conclusion of the Severe Winter Storms Disaster in Fairbanks North Star Borough, AK
To apply for financial assistance and relief due to your Fairbanks North Star Borough, Alaska business being financially damaged by severe winter storms on 1/1/2022 through 1/4/2022, there are important SBA deadlines for when you need to submit your new application, increase request, or reconsideration request.
For the Fairbanks North Star Borough, Alaska Declared Disaster Declaration #17420. The economic injury disaster loan (EIDL) application filing deadline is 1/23/2023.
This is something you can possibly do yourself (DIY) by visiting the official government FEMA and SBA websites.
Fairbanks North Star Borough Professional Disaster Assistance for Your Business in Alaska
Was your Fairbanks North Star Borough, AK business disrupted by the severe winter storms incident that occured on 1/1/2022 through 1/4/2022?
We can offer professional assistance to help your business file for a new SBA EIDL loan, an increase request or loan modification, or a reconsideration appeal if you were denied for an SBA EIDL loan for your business that was economically harmed by severe winter storms in Fairbanks North Star Borough under Disaster Number AK-00051 that was declared on 4/22/2022 through Disaster Declaration #17420.
Business Owners Located in Fairbanks North Star Borough, Alaska:
Schedule Your Free Disaster Loan Consultation Call for Help in Financially Recovering From the Severe Winter Storms That May Have Damaged Your Business in Fairbanks North Star Borough, AK.
Cover Image Credit: 123RF.com / Olga5226 / Disaster Loan Advisors.