Low-interest federal disaster loans are now available to California businesses and residents in the wake of President Biden’s announcement of a major natural disaster, US Small Business Administration Administrator Isabella Casillas Guzman said.
The declaration applies to the counties of Lassen, Nevada, Placer and Plumas, which were caused by wildfires that began on July 14, 2021.
“The SBA is committed to providing California with the most effective and customer-focused response and access to federal disaster credit to help businesses and residents affected by this disaster,” Guzman said. “Getting our businesses and communities to work in the aftermath of natural disasters is our top priority at SBA.”
Given the public health concerns of the coronavirus pandemic, starting Thursday, August 26, the SBA will set up a virtual business recovery center to provide personalized assistance to business owners. In addition, the SBA will also open a Virtual Disaster Loan Support Center to assist homeowners and renters. Customer service representatives will be available for business owners and individuals to answer questions about the SBA’s disaster loan program, explain the application process, and help each person complete an electronic loan application.
Virtual Business Recovery Center and
Virtual Disaster Loan Support Center
Monday – Friday (5 days a week)
8:00 – 20:00
The centers are closed on Monday 6 September for Labor Day.
Businesses of all sizes and private nonprofits can borrow up to $ 2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other business assets. The SBA can also provide additional funds to businesses and homeowners to help cover the cost of improvements to protect, prevent, or minimize damage from similar disasters in the future.
To small businesses, small agricultural cooperatives, small aquaculture businesses, and most private non-profit organizations of all sizes, SBA offers disaster loans to help meet disaster-related working capital needs. Help in connection with economic damage is available to businesses regardless of material damage.
Disaster loans of up to US $ 200,000 are available to homeowners to repair or replace damaged or destroyed properties. Homeowners and renters are eligible for up to $ 40,000 to repair or replace damaged or destroyed personal property.
Interest rates can be as low as 2.855 percent for businesses, 2 percent for private nonprofits, and 1.563 percent for homeowners and tenants up to 30 years. Loan amounts and conditions are set by the SBA and are based on the financial condition of each applicant.
To receive assistance in all forms of disaster relief, survivors must first contact the Federal Emergency Management Agency at: www.disasterassistance.gov… Applicants can apply online, get more information on disaster relief, and download applications at https://disasterloanassistance.sba.gov/… Applicants can also call the SBA Customer Service Center at (800) 659-2955 or email. [email protected] for more information on SBA Disaster Relief. People who are deaf or hard of hearing can call (800) 877-8339. Completed applications should be mailed to the United States Small Business Management, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.