Director Tanya N. Garfield of the U.S. Small Business Administration’s Disaster Field Operations Center-West announced today that SBA has approved more than $50 million in federal disaster loans for California businesses and residents impacted by wildfires that occurred Aug. 14 to Sept. 26, 2020. According to Garfield, the SBA has approved $3,454,400 for businesses and $47,002,400 for residents to help rebuild and recover from this disaster.
“SBA’s disaster assistance employees are committed to helping businesses and residents rebuild as quickly as possible,” said Garfield. “Although the deadline to apply for property damage loans has expired, small businesses and most private nonprofit organizations of any size may continue to apply for an Economic Injury Disaster Loan to help meet working capital needs caused by the disaster. Economic injury assistance is available regardless of whether the business or nonprofit organization suffered any property damage.”
SBA continues to provide one-on-one assistance to disaster loan applicants at the following virtual centers on the days and times indicated:
Virtual Disaster Loan Outreach Center and Virtual Business Recovery Center
Monday – Sunday (7 days/week)
8 a.m. – 8 p.m. EST
For small businesses and most private nonprofit organizations of all sizes, SBA offers Economic Injury Disaster Loans to help meet working capital needs caused by the disaster. Economic injury assistance is available regardless of whether the business suffered any property damage.
These low-interest federal disaster loans are available in Lassen, Alameda, Butte, Calaveras, Colusa, Contra Costa, Fresno, Glenn, Humboldt, Inyo, Kern, Kings, Lake, Marin, Mariposa, Mendocino, Merced, Modoc, Monterey, Napa, Plumas, Sacramento, San Benito, San Francisco, San Joaquin, San Luis Obispo, San Mateo, Santa Clara, Santa Cruz, Shasta, Sierra, Siskiyou, Solano, Sonoma, Stanislaus, Sutter, Tehama, Trinity, Tulare, Tuolumne, Yolo and Yuba counties in California; and Washoe County in Nevada.
The interest rate is 3 percent for businesses and 2.75 percent for private nonprofit organizations with terms up to 30 years. The deadline to apply for economic injury is May 24, 2021.
Applicants may apply online, receive additional disaster assistance information and download applications at disasterloanassistance.sba.gov/. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email [email protected] for more information on SBA disaster assistance. Individuals who are deaf or hard of hearing may call (800) 877-8339.
Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.