2020 California Sierra National Forest Creek Fire burn area south of Shaver Lake
December 10, 2020 – SACRAMENTO, California – Director Tanya N. Garfield of the US Small Business Administration’s Disaster Field Operations Center-West announced on Wednesday that the SBA had approved more than $ 10 million in federal disaster loans for businesses and California residents affected by wildfires that occurred from Sept. 4 to Nov. 17, 2020. According to Garfield, the SBA has approved $ 67,900 for businesses and $ 10,018,800 for residents to help rebuild and recover from disaster.
“SBA disaster assistance employees are committed to helping businesses and residents rebuild as quickly as possible,” Garfield said. Businesses and residents of Fresno, Los Angeles, Madera, Mendocino, Napa, San Bernardino, San Diego, Shasta, Siskiyou, and Sonoma counties who have suffered damage are encouraged to register by the December 15, 2020 deadline with of the Federal Emergency Management Agency. at www.disasterassistance.gov. “Don’t miss out on any help you may be entitled to by not signing up for help. You don’t have to wait for your insurance to settle or get a quote from a contractor, ”she adds.
The SBA continues to provide one-on-one disaster loan applicants through the following virtual centers on the days and times indicated.
Virtual disaster recovery center and
Virtual Disaster Loan Assistance Center
Monday to Sunday (7 days / week)
8 a.m. to 8 p.m. EDT
Businesses of all sizes and private non-profit organizations can borrow up to $ 2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other commercial assets. The SBA can also lend additional funds to help businesses and residents meet the cost of upgrades that protect, prevent, or minimize the same type of damage from a disaster in the future.
For small businesses and most private nonprofits of all sizes, SBA offers economic disaster loans to help meet the working capital needs caused by the disaster. Aid for economic damage is available whether or not the business has suffered material damage. The deadline to submit an economic loss claim is July 16, 2021.
Disaster loans of up to $ 200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and tenants are entitled to up to $ 40,000 to repair or replace damaged or destroyed personal property.
Interest rates can be as low as 3% for businesses, 2.75% for private nonprofits, and 1.188% for landlords and tenants with terms of up to 30 years. The amounts and terms of the loan are set by the SBA and are based on the financial status of each applicant.
Applicants can apply online, receive additional information about disaster assistance, and download applications at https://disasterloanassistance.sba.gov/. Applicants can also call the SBA Customer Service Center at (800) 659-2955 or send an email [email protected] for more information on SBA Disaster Assistance. People who are deaf or hard of hearing can call (800) 877-8339. Completed applications should be mailed to US Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.