SBA Offers Disaster Assistance to Colorado Residents and Businesses Affected by the Fourmile Canyon Wild Fire
Sacramento, CA – Low-interest Federal disaster loans are available to Colorado residents and business owners affected by the Fourmile Canyon Wild Fire that occurred September 6 - 18, 2010, announced U. S. Small Business Administration (SBA) Administrator Karen G. Mills. SBA acted under its own authority to declare a disaster following Governor Bill Ritter’s September 20 request for a disaster declaration.
The disaster declaration makes SBA assistance available in the Colorado counties of Boulder, Broomfield, Gilpin, Grand, Jefferson, Larimer and Weld.
“The U. S. Small Business Administration is strongly committed to providing the most effective and customer-focused response possible to assist those residents and businesses affected by the Fourmile Canyon Wild Fire with Federal disaster loans,” 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, non-profit organizations whose property was damaged or destroyed by the fire,” said Greg Lopez, SBA’s Colorado District Director. “Beginning today, September 23 at 12 noon, SBA customer service 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, help each individual complete their application and close their approved loans,” Lopez continued. The center will be open on the days and times indicated. No appointment is necessary.
Disaster Loan Outreach Center
Boulder County Department of Health
Boulder Auditorium Room
3450 N. Broadway
Boulder, CO 80304
Opens Thursday, September 23 at 12 pm
Hours of Operation: Mondays through Fridays, 9 am to 6 pm
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, non-profit 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 and most private, non-profit 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 2.50 percent for homeowners and renters, 3 percent for private, non-profit organizations and 4 percent for businesses, with terms up to 30 years. Loan amounts and terms are set by SBA and are based upon each applicant’s financial condition.
Disaster loan information and application forms are also available from SBA’s Customer Service Center by calling SBA toll-free at (800) 659-2955, emailing firstname.lastname@example.org, or visiting SBA’s Web site at www.sba.gov/services/disasterassistance. Hearing impaired individuals may call (800) 877-8339.
Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure Web site at https://disasterloan.sba.gov/ela.
The filing deadline to return applications for property damage is November 22, 2010. The deadline to return economic injury applications is June 23, 2011.
SBA Field Operations Center - West, P.O. Box 419004, Sacramento, CA 95841