SACRAMENTO, Calif. – Low-interest federal disaster loans are available to California residents and business owners affected by the Silver Fire that occurred in Riverside County from August 7 - 14, 2013, U. S. Small Business Administration (SBA) Administrator Karen G. Mills announced today. SBA acted under its own authority to declare a disaster in response to a request SBA received from Governor Edmund G. Brown’s designated representative, Mark Ghilarducci, Director of the Governor’s Office of Emergency Services, on August 21.
The disaster declaration makes SBA assistance available in Riverside County and the neighboring counties of Imperial, Orange, San Bernardino and San Diego and the neighboring Arizona county of La Paz.
“The U. S. Small Business Administration is strongly committed to providing California with the most effective and customer-focused response possible, and we will be there to provide access to federal disaster loans to help finance recovery for residents and businesses affected by the disaster,” said Mills. “Getting our businesses and communities up and running after a disaster is our highest priority at SBA.”
“Low-interest federal disaster loans are available to homeowners, renters, businesses of all sizes and private, nonprofit organizations whose property was damaged or destroyed by this disaster,” said SBA’s Santa Ana Acting District Director Rachel Baranick. “Beginning Tuesday, August 27, SBA representatives will be on hand at the following Disaster Loan Outreach Center to issue loan applications, answer questions about SBA’s disaster loan program, explain the application process, and help each individual complete their application,” Baranick continued. The center will be open on the days and times indicated. No appointment is necessary.
Opens: Tuesday, August 27, 2013 at 9:00 am
Hours of Operation: Tuesdays, Wednesdays and Thursdays
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 1.937 percent for homeowners and renters, 2.875 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 deadline to return applications for property damage is October 25, 2013. The deadline to return economic injury applications is May 26, 2014.
SBA Field Operations Center - West, P.O. Box 419004, Sacramento, CA 95841
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