SBA Tops $1 Million in Disaster Assistance Loans in Tehama County due to Winter Storms

SBA LogoSACRAMENTO. – Director Joseph McClure of the U.S. Small Business Administration’s (SBA) Sacramento District office announced today that SBA has approved more than $1 million in federal disaster loans for businesses and residents impacted by winter storms in Tehama County that occurred December 3 – 23, 2014.  According to McClure, SBA has approved $203,900 for businesses and $856,300 for residents to help rebuild and recover from this disaster.

McClure said, “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 (EIDL) to help meet working capital needs caused by the disaster.  EIDL assistance is available regardless of whether the business or nonprofit organization suffered any property damage.”

Small, nonfarm businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size may qualify for an EIDL of up to $2 million to help meet financial obligations and operating expenses which could have been met had the disaster not occurred.  These loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact. 

Disaster loans are available in Butte, Glenn, Mendocino, Plumas, Shasta, Tehama and Trinity counties.  The interest rate is 4% for businesses and 2.625% for private, nonprofit organizations, with terms up to 30 years.  The deadline to submit an EIDL application is October 7, 2015.

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 e-mailing disastercustomerservice@sba.gov.  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

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