The deadline to apply for assistance from physical property damage sustained from September’s flooding is approaching.

The deadline to apply for loans for physical property damage is Jan. 30. The deadline to return economic injury applications is Aug. 29.

Businesses, renters and homeowners are advised to fill out an application for disaster assistance with FEMA and then complete and return a no-obligation Small Business Administration loan application. There is no charge to apply for the loan, and if approved, there is no obligation to accept it.

SBA offers long-term assistance to businesses, homeowners and renters in three areas:

Business physical disaster loans for businesses of any size to repair or replace disaster-damaged property owned by the business, such as real estate, machinery, inventory, supplies and equipment. Private, nonprofit organizations such as churches, private universities and charities are also eligible. Loans are limited to a maximum of $2 million.

Home disaster loans to homeowners or renters to repair or replace disaster-damaged real estate property, such as automobiles. These loans are limited to a maximum of  $200,000 for the repair or replacement of real estate and $40,000 to repair or replace personal property.

Economic injury disaster loans provide working capital loans to help small ag cooperatives, small businesses, small businesses engaged in agriculture and most nonprofit organizations of all sizes to meet ordinary and necessary financial obligations, which cannot be met as a direct result of the disaster. Loans are limited to a maximum of $2 million.

Applicants must have a credit history acceptable to SBA and show the ability to repay loans. Collateral, which could include real estate, is required for physical loss loans and economic injury disaster loans of more than $25,000. According to SBA, loans will not be declined for a lack of collateral, but you will be required to pledge what is available.

Interest rates for SBA loans are as low as 1.6 percent, said SBA public affairs specialist Karen Knapik.

A disaster relief center is at Northbridge Mall, 2510 Bridge Ave., to help renters, homeowners and businesses.

Representatives from FEMA, SBA, Homeland Security Management division of the Minnesota Department of Public Safety and other agencies are discussing the program, providing literature about repairs and rebuilding to make homes more flood resistant and answering questions about written correspondence.

The center is open from 9 a.m. to 6 p.m. Monday through Saturday. It will be closed Saturday and Sunday for the holiday.

Flood victims are advised to register for federal assistance before visiting the recovery center, either online at www.DisasterAssistance.gov, by using the FEMA application or by calling 800-621-3362.

People who are deaf, hard of hearing or have a speech disability and use a TTY, may call 800-462-7585.

Knapik said since winter has set in, damage might not be noticed until the spring.

“We want you to have us in your back pocket, should you need us,” she said.

About 80 percent of FEMA applicants are forwarded to SBA, Knapik said.

If an applicant does not qualify for SBA funding, the application is forwarded back to FEMA, where the application is processed for possible grant funding.

“If you don’t complete the SBA process, you are potentially leaving this extra grant money on the table,” Knapik said.

A common misconception is that SBA loans in times of disaster only go toward small businesses, Knapik said.

“The majority of our loans in times of disasters go to homeowners and renters,” she said. “We help businesses, nonprofits, churches of all sizes, but the majority of them seem to be homeowners and renters.”

SBA has distributed $1.8 million in loans statewide from the flooding. More than 440 written applications have been approved by FEMA, and $1.67 million has been given in grants.

Knapick advised people to not feel guilty about applying for funding.

“It isn’t taking from your neighbor,” she said. “You’re not losing anything, you’re not taking anything from your neighbor. This is your taxpayer money that’s available to you. Don’t miss out on it. There’s no reason why you should.”