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SBA starts handing out checks to Chaba victims
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Posted on Sep 10 2004
Joaquina Sablan flashed a big smile when she received a $6,000-check from the U.S. Small Business Administration to repair her Saipan house, which was damaged by Supertyphoon Chaba.
Sablan, Betty Kosam, and Jennifer Palacios became the first three SBA loan applicants to receive their checks, which were handed out by SBA officer-in-charge Carl N. Gaspari at the Multi-Purpose Center yesterday.
“I feel very happy,” Sablan said before a crowd of local officials and representatives from the SBA and the Federal Emergency Management Agency.
Gov. Juan N. Babauta, Governor’s authorized representative Vicky Villagomez, CNMI press secretary Pete Callaghan, and Emergency Management Office director Rudolfo Pua also witnessed the ceremony.
Gaspari said the SBA has received at least 150 loan applications so far from CNMI residents who were affected by the onslaught of the supertyphoon. He said the SBA has given out some 600 application forms to potential applicants.
Most of the applicants sought home disaster loans to repair damaged homes. Some of the applicants are business companies, which incurred property damage.
The SBA provides low-interest loans to individuals or businesses that incurred disaster damage. Home loan amounts are limited to $200,000 to repair or replace real estate and $40,000 to repair or replace uninsured personal property.
Business and economic injury loans could reach up to $1.5 million, depending on the extent of the property damage or economic injury.
The FEMA disclosed disbursing some $4.4 million to Chaba victims. FEMA public information officer John Trainor said a total of 2,945 registered with the agency for loan assistance.
Some $3 million pertains to home disaster loans—and $1.4 in Other Needs Assistance—which covers medical expenses, and those incurred or needed to have damaged automobiles and household items repaired.
A total of 2072 residents trooped to FEMA’s disaster recovery centers on Saipan, Tinian, and Rota to seek individual aid. Saipan’s DRC is situated in the Multi-Purpose center. The other DRCs are at the Tinian Youth center and the Rota Public Library. The DRCs open from 8am to 6pm daily.
