SACRAMENTO, Calif. – Mark Quinn, District Director of the U.S. Small Business Administration’s (SBA) San Francisco District office, announced today that SBA will close its Disaster Loan Outreach Center in Vallejo at 6 pm on Tuesday, December 23.
“SBA opened the center in Vallejo to provide personalized assistance to residents and business owners impacted by the South Napa Earthquake and aftershocks that occurred August 24 – September 7, 2014. Until the center closes, SBA customer service representatives are available to meet with residents and business owners to answer their questions, explain SBA’s disaster loan program, help them complete their applications and close their approved disaster loans,” said Quinn. No appointment is necessary.
Disaster Loan Outreach Center
John F. Kennedy Library, 3rd Floor
505 Santa Clara Street
Vallejo, CA 94590
Mondays – Thursdays, 10 am – 6 pm
Fridays, 10 am – 5 pm
Center closes at 6 pm on Tuesday, Dec. 23
SBA customer service representatives continue to be available at the Local Assistance Center in Napa to meet individually with residents and business owners. No appointment is necessary.
Local Assistance Center
301 1st Street
(Corner of 1st Street & Silverado Trail)
Napa, CA 94558
Mondays – Fridays, 9 am – 6 pm
Saturdays, 9 am – 4 pm
Center closes for Christmas Holiday Wednesday, Dec. 24 and reopens Saturday, Dec. 27 at 9 am
According to Quinn, SBA has approved $20.2 million in federal disaster loans, $16.9 million to help residents and $3.3 million to help businesses and private, nonprofit organizations with their recovery.
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.
Businesses of any size 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 making improvements that 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.
Interest rates can be as low as 2.063 percent for homeowners and renters, 2.625 percent for private nonprofit organizations and 4 percent for businesses, 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 Web site 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 e-mailing 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.
The filing deadline to return applications for property damage is December 29, 2014. The deadline to return economic injury applications is July 27, 2015.