SACRAMENTO, Calif. – Low-interest federal disaster loans are now available to certain private nonprofit organizations in California following President Trump’s federal disaster declaration for Public Assistance as a result of the severe winter storms, flooding and mudslides that occurred Jan. 3-12, 2017, announced the U.S. Small Business Administration. Private nonprofits that provide essential services of a governmental nature are eligible for assistance.
SBA disaster assistance is now available in Alameda, Amador, Butte, Calaveras, Contra Costa, El Dorado, Humboldt, Inyo, Lake, Lassen, Marin, Mendocino, Merced, Mono, Monterey, Napa, Nevada, Placer, Plumas, Sacramento, San Benito, San Luis Obispo, Santa Clara, Santa Cruz, Shasta, Sierra, Siskiyou, Solano, Sonoma, Sutter, Trinity, Tuolumne, Yolo and Yuba counties.
SBA may lend private nonprofits up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other business assets. SBA can also lend additional funds to help with the cost of improvements to protect, prevent or minimize the same type of disaster damage from occurring in the future.
For certain private nonprofit organizations of any size, SBA offers Economic Injury Disaster Loans to help with meeting working capital needs caused by the disaster. Economic Injury Disaster Loans may be used to pay fixed debts, payroll, accounts payable and other bills that cannot be paid because of the disaster’s impact. Economic injury assistance is available regardless of whether the nonprofit suffered any property damage.
The interest rate is 2.5 percent with terms up to 30 years. The filing deadline to return applications for property damage is April 17, 2017. The deadline to return economic injury applications is Nov. 14, 2017.
Applicants may apply online using SBA’s secure website at https://disasterloan.sba.gov/ela.
Disaster loan information and application forms are also available from SBA’s Customer Service Center by calling (800) 659-2955 or emailing firstname.lastname@example.org. Individuals who are deaf or hard‑of‑hearing may call (800) 877-8339. For more disaster assistance information or to download applications, visit https://www.sba.gov/disaster. Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.