Mobile County, Alabama businesses and residents were affected by hurricane damage, flooding, and storm remnants from the Hurricane Ida tropical depression.
SBA Hurricane Ida Disaster Loan Assistance for Mobile County AL
On 10/22/2021, 12 counties in Alabama were declared a disaster area through a Presidential disaster declaration (Disaster #MS-00136) due to Hurricane Ida that occured on 8/28/2021 through 9/1/2021.
In Mobile County, Alabama, 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 Mobile County, Alabama, that were affected by the declared disaster.
The SBA also provides eligible Mobile County, Alabama small businesses and nonprofit organizations with working capital to help overcome the economic injury of the declared disaster in Mobile County, Alabama.
To apply for assistance from the SBA due to Hurricane Ida, visit the official Hurricane Ida SBA website.
Mobile County, Alabama businesses and private nonprofit organizations of any size may borrow up to $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 Mobile County, Alabama may be eligible for a 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 Mobile County, Alabama.
For small businesses, 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 property damage.
Mobile County, Alabama disaster loans up to $200,000 (two hundred thousand dollars) are available to homeowners to repair or replace disaster-damaged or destroyed real estate. Homeowners and renters are eligible for up to $40,000 (forty thousand dollars) to repair or replace disaster-damaged or destroyed personal property.
Interest rates are as low as 2.855% (two point eight five five percent) for businesses, 2% (two percent) for nonprofit organizations and 1.563% (one point five six three percent) for homeowners and renters, 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.
For speed and personalized attention, Schedule Your Free Mobile County Disaster Loan Consultation call. Depending on your situation, we may be able to help.
Mobile County, Alabama Disaster Assistance From FEMA
If your home or business was impacted by Hurricane Ida 2021, and is located in one of the communities approved for individual assistance from FEMA (Federal Emergency Management Agency), you can apply for disaster assistance.
Check to see if Mobile County, Alabama 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 Mobile County, Alabama disaster assistance resources, or to apply for assistance from FEMA, visit the official Hurricane Ida FEMA website.
SBA EIDL Loans vs. FEMA Assistance in Mobile County, Alabama
In Mobile County, Alabama an SBA loan application holds many benefits for Hurricane Ida 2021 survivors who also apply for FEMA disaster assistance in Mobile County.
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 Mobile County, Alabama 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 Individual Assistance grant 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 Mobile County, Alabama 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 Hurricane Ida being a natural disaster, the SBA also offers loans for homeowners in Mobile County, Alabama 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 Mobile County, Alabama 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 Hurricane Ida 2021.
Are SBA loans available for businesses and nonprofits of any size?
Yes. Due to the Hurricane Ida 2021 declared disaster, Mobile County, Alabama 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 Mobile County, Alabama, 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.
Is there a deadline to apply for a Hurricane Ida SBA low-interest loan?
Yes. The deadline to file applications for property damage is October 28th, 2021. The deadline to return economic injury applications is May 31st, 2022. These deadlines may be slightly different depending on the county and state.
Mobile County, Alabama AL Cities and Towns Affected by Hurricane Ida 2021
Here is a list of all the Mobile County, Alabama cities, towns, parishes, and municipalities affected by the Hurricane Ida 2021 tropical storm:
Axis, Bayou La Batre, Bucks, Chunchula, Citronelle, Coden, Creola, Dauphin Island, Eight Mile, Grand Bay, Irvington, Mobile, Mount Vernon, Saint Elmo, Saraland, Satsuma, Semmes, Theodore, Wilmer.
Population of Mobile County in Alabama
Mobile County has a population of 414,809 residents (2020 Census figures), which is a change of 0.40% in population from the 2010 Census numbers. The State of Alabama has a current total population of 5,024,279. This is a 5.10% change in the number of residents in AL.
The Federal Information Processing System (FIPS) Code for the State of Alabama is 1000. The FIPS code for Mobile County, AL is 1097.
Mobile County Official Government Website in Alabama
The official website for the Mobile County, AL government can be found here:
Check the Mobile County website for other possible disaster relief options for residents and businesses located in Mobile County, Alabama.
Other Alabama Counties Affected by the Hurricane Ida 2021 Disaster
Besides Mobile County, other counties in Alabama that were affected by Hurricane Ida are:
Alabama Included, Hurricane Ida 2021 Caused Damage in 12 States and 134 Counties
Alabama was not the only state that suffered disastrous damage from Hurricane Ida.
With Alabama, 12 states were affected, including: Alabama, Connecticut, Delaware, Georgia, Louisiana, Maryland, Massachusetts, Mississippi, New Jersey, New York, Alabama, and Virginia.
Hurricane Ida formed as a tropical depression in the Caribbean Sea on August 26, 2021. It increased to a hurricane the next day. Hurricane Ida was a deadly and destructive Category 4 Atlantic Ocean hurricane that became the second-most damaging and intense hurricane to make landfall in the United States on record behind Hurricane Katrina in 2005.
Hurricane Ida made landfall in the State of Louisiana on August 29, 2021, the 16th anniversary of Hurricane Katrina. Hurricane Ida made landfall near Port Fourchon, Louisiana, devastating the town of Grand Isle. Ida weakened steadily over land, becoming a tropical depression on August 30th, 2021. It then turned northeast causing damage across multiple states.
Summary of Hurricane Ida Disaster Loan Relief for Mobile County AL
To apply for financial assistance and relief due to your Mobile County, Alabama home or business being damaged by Hurricane Ida, it is important to do so in a timely manner. There are deadlines for when you need to submit your application.
Was Your SBA Loan Denied?
Has your Mobile County, Alabama SBA disaster EIDL loan been denied?
We can assist you in filing for an SBA EIDL loan reconsideration appeal for your business that was affected either by COVID, or the Hurricane Ida 2021 declared disaster in Mobile County.
Schedule Your Free Disaster Loan Consultation to see if we may be able to help your Mobile County, Alabama business with the SBA Loan Reconsideration Process.
Need an Increase on Your SBA Loan?
Did you already receive an SBA EIDL disaster loan for your business?
We can assist your Mobile County, Alabama business in requesting additional SBA EIDL loan funds through the increase request process.
Schedule Your Free Disaster Loan Consultation to see if we may be able to help your Mobile County, Alabama business with the SBA Increase Request Process.
Cover Image Credit: 123RF.com / Archangel80889 / Disaster Loan Advisors.