During these extraordinary times, to meet the client's immediate financial need, CGMA will provide the client with an interest-free loan and then at a later date, when more specific data and information are available, determine whether the financial assistance should be a loan, grant or a combination of grant and loan.
In these situations, the start of any interest-free loan repayment is deferred until some point in the future. This provides time for the situation to stabilize and for reimbursement entitlements to be determined, allowing CGMA to objectively assess an individual's true out-of-pocket losses and financial needs.
CONVERTING A LOAN INTO A GRANT
While CGMA would like to see those affected made whole, even agencies of the federal government and major charities do not have sufficient funds to cover every individual's actual losses.
CGMA's disaster assistance priority for losses and expenses not reimbursed by other sources is:
Priority 1 - Emergency disaster assistance for basic living expenses to prevent privation (lack of food, shelter or clothing) and temporary home repairs to prevent further damage.
Priority 2 - Basic household setup/re-establishment, personal property items and other emergency needs.
When directed by CGMA-HQ - Disaster Assistance Request Form CGMA-6 will be available from your CGMA Representative
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