SACRAMENTO, Calif. – District Director Mark Quinn of the U.S. Small Business Administration’s (SBA) San Francisco District Office announced today the closure of the SBA Disaster Loan Outreach Center in Napa on Friday, February 13 at 4:30 p.m. Quinn also said that SBA has approved more than 1,000 disaster loans worth over $35 million to help businesses and residents recover from the earthquake.
“SBA opened the center following the closure of the Federal/State Disaster Recovery Center on December 29 to continue providing personalized assistance to California businesses and residents affected by the South Napa Earthquake and aftershocks that occurred August 24 – September 7, 2014. Until the Napa center closes, SBA customer service representatives are available to meet with business owners and residents to answer their questions, explain SBA’s disaster loan program and help them close their approved disaster loans,” said Quinn. No appointment is necessary.
|NAPA COUNTY SBA Disaster Loan Outreach Center301 First Street
(corner of First Street and Silverado Trail)
Napa, CA 94590
Mondays – Fridays 8:00 – 4:30 p.m.
Center closes Friday, February 13 at 4:30 p.m.
According to Quinn, SBA has approved 1,013 federal disaster loans for nearly $35.2 million; 103 loans at $7.1 million for businesses and private nonprofit organizations, and 910 loans at $28.1 million for homeowners and renters.
Businesses of all sizes and private nonprofit organizations may borrow 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 homeowners and businesses to help with the cost of improvements to protect, prevent or minimize the same type of disaster damage from occurring in the future.
For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private nonprofit organizations of any size, SBA offers Economic Injury Disaster Loans (EIDLs) to help meet working capital needs caused by the disaster. EIDL assistance is available regardless of whether the business suffered any property damage. The deadline to return economic injury applications is July 27, 2015.
Disaster loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. 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 4 percent for businesses, 2.625 percent for private nonprofit organizations and 2.063 percent for homeowners and renters with terms up to 30 years. Loan amounts and terms are set by SBA and are based on each applicant’s financial condition.
Applicants may apply online using the Electronic Loan Application (ELA) via 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 information about SBA’s disaster assistance programs, visit http://www.sba.gov/disaster.
SBA Field Operations Center – West, P.O. Box 419004, Sacramento, CA 95841
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