SACRAMENTO, Calif. – District Director Heather Luzzi of the U.S. Small Business Administration’s Sacramento District Office today announced the opening of two Disaster Loan Outreach Centers to meet the needs of businesses and individuals who were affected by the wildfires that began Oct. 8, 2017.
“SBA customer service representatives will be on hand at the following center to answer questions about SBA’s disaster loan program, explain the application process and help each individual complete their electronic loan application,” Luzzi said. The centers will be open on the days and times indicated. No appointment is necessary.
Disaster Loan Outreach Center
Department of Development Services
Fire Assistance Center
7 County Center Drive
Oroville, CA 95965
Opens 8 a.m. Thursday, Oct. 26
Thursdays – Fridays, 8 a.m. – 5 p.m.
Closes 5 p.m. Thursday, Nov. 9
Disaster Loan Outreach Center
Eric W. Rood County Administrative Center
950 Maidu Ave.
Nevada City, CA 95959
Opens 8 a.m. Monday, Oct. 23
Mondays – Wednesdays, 8 a.m. – 5 p.m.
Closes 5 p.m. Wednesday, Nov. 8
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 businesses and homeowners 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 to help meet working capital needs caused by the disaster. Economic injury assistance is available regardless of whether the business suffered any property damage.
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 3.305 percent for businesses, 2.5 percent for private nonprofit organizations and 1.75 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.
To be considered for all forms of disaster assistance, survivors must first register with the Federal Emergency Management Agency at www.disasterassistance.gov.
Applicants may apply online, receive additional disaster assistance information and download applications at https://disasterloan.sba.gov/ela. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email firstname.lastname@example.org 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.
The deadline to apply for property damage is Dec. 11, 2017. The deadline to apply for economic injury is July 12, 2018.