If your home or business was directly affected by Superstorm Sandy, then listen up. There are just seven days left to apply for a U.S. Small Business Administration Loan.

Tim Larsen, Governor's Office

An SBA disaster loan, which is part of the FEMA grant process, can help homeowners, renters and businesses cover any repair or rebuilding costs not covered by private insurance or cover disaster-related damage costs that exceed the initial estimate. Homeowners can receive loans of up to $200,000 to repair or replace their primary residences. Homeowners and renters may also borrow up to $40,000 to replace damaged or destroyed personal property including vehicles.

Businesses and private nonprofits can apply for loans of up to $2 million. Interest rates for businesses are as low as 4 percent to cover physical damage and economic injury caused by the disaster.

Survivors who receive a low-interest disaster loan application from SBA after registering with FEMA should complete and return the application even if they do not plan to accept a loan. By completing the application, applicants may become eligible for additional grants from FEMA. By not completing and returning the applications, survivors could potentially be leaving recovery assistance money on the table.

In New Jersey, over 205,000 applications have been issued but only 39,000 have come back in.

SBA Public Affairs Specialist Kathy Cook explains, "Many people are still assessing and are waiting to hear from their insurance. You shouldn't wait. This will only delay the process. Everyone is urged to get their forms in asap."

Applicants may apply online using the Electronic Loan Application via SBA's secure website.

More information is available by calling the SBA Disaster Customer Service Center toll-free number, 800-659-2955 (TTY 800-877-8339.)

Assistance is also available by sending an email to DisasterCustomerService@sba.gov or by visiting them online.

The deadline is January 30th.