What have individuals experienced with the SBA loan process? How does the process work? The form is very long/detailed and they give you a limited time to complete. What happens if you miss the deadline?

I have heard some rumors that these loans could either be forgiven or turned into a grant. Again, that is just a rumor. Sounds like a trip to a FEMA Diaster Recover location/site might help clear up some questions. Should be one in your area (http://www.fema.gov/news/newsrelease.fema?id=19806)

Opus

I got a SBA loan for Hurricane Lily...they're very low interest and very easy to work with. In fact I still owe on it and I got a letter this week saying they're deferring the loan for 12 months but I still have the option to pay it off if I want..again, VERY easy to work with..