97.030: Community Disaster Loans
Overview
Program Number
97.030
Status
Active
Last Modified
Aug. 26, 2022
Date Posted
Aug. 26, 2022
Objective
To provide loans subject to Congressional loan authority, to any local government that has suffered substantial loss of revenues in an area in which the President designates a major disaster in order to assist communities affected by an incident to recover effectively . The funds can only be used to maintain existing functions of a municipal operating character and the local government must demonstrate a need for financial assistance.
Type of Assistance
E - Direct Loans
Applicant Eligibility
Local (includes State-designated Indian Tribes, excludes institutions of higher education and some hospitals) government applicants must be in a designated major disaster area and must demonstrate that they meet the specific conditions of FEMA Emergency Management and Assistance Regulations at 44 C.F.R. Part 206, Subpart K, Community Disaster Loans. To be eligible, the applicant must demonstrate: 1) a substantial loss of revenues as a result of a major disaster; 2) a need for financial assistance to perform its governmental functions. During the 2017 hurricane season, a supplemental provided funding and new guidance specific to Hurricanes Harvey, Irma, and Maria. Public Law 115-72 and Public Law 115-123 provide additional supplemental appropriations and eligibility criteria for disaster relief requirements for the fiscal year ending September 30, 2018. Further, P.L. 116-260 removed the loan cap, provided alternate eligibility criteria, and extended the deadline for FEMA to issue a loan only for those disasters that were declared in calendar year 2018.
Beneficiary Eligibility
Local governments in a designated disaster area.
Additional Information
Grant Awards
Community Disaster Loans direct grants
Grant Opportunities