If you don’t want a loan that is certainly your decision/choice. The SBA will help you decide whether or not you can afford a loan. Federal disaster rules mandate that you apply for a disaster loan before being considered for any additional disaster assistance (unless you do not meet the income test). If you do not apply for an SBA loan when instructed to do so, or reject a loan if one is offered, you may not be eligible for any additional federal assistance outside of the repair or replacement assistance mentioned above for repair or replacement of your destroyed home. If your loan application is approved and you accept it, you will more than likely have the funds you need to return your home to its pre-disaster condition.
Last modified: November 10, 2019