Acting Regional Administrator Robert Blaney of the U.S. Small Business Administration’s Region IX Office announced Monday that SBA has approved more than $5.6 million in federal disaster loans for California businesses and residents impacted by severe storms and flooding that occurred Feb. 1 through 5, 2017.
According to Blaney, SBA has approved $2,809,900 for businesses and $2,885,800 for residents to help rebuild and recover from this disaster.
These low-interest federal disaster loans are available in 25 California counties including Stanislaus and San Joaquin, as well as Washoe County in Nevada. 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 email@example.com. 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. The SBA can also lend additional funds to help business and residents 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 and most private nonprofit organizations of all sizes, 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 their damaged or destroyed primary residence. Homeowners and renters are eligible for up to $40,000 to repair or replace damaged or destroyed personal property.
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. The filing deadline to submit applications for property damage is May 19, 2017. The deadline to submit economic injury applications is Dec. 20, 2017.