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Disaster Press Releases

WA 13988-01 SBA Offers Disaster Assistance to Washington Residents and Businesses Affected by the North Bend Explosion

SACRAMENTO, Calif. – Low-interest federal disaster loans are available to Washington residents and business owners affected by the North Bend Explosion that occurred on April 25, 2014, U. S. Small Business Administration (SBA) Administrator Maria Contreras-Sweet announced today.  SBA acted under its own authority to declare a disaster in response to a request SBA received from Gov. Jay Inslee on May 14, 2014.

The disaster declaration makes SBA assistance available in the Washington primary county of King and neighboring counties of Chelan, Kitsap, Kittitas, Pierce, Snohomish and Yakima.

“The U. S. Small Business Administration is strongly committed to providing Washington 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 Contreras-Sweet.  “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 Seattle District Director Nancy Porzio.  “Beginning Tuesday, May 20, SBA representatives will be on hand at the following Disaster Loan Outreach Center to answer questions about SBA’s disaster loan program, explain the application process and help each individual complete their application,” Porzio continued.  The center will be open on the days and times indicated.  No appointment is necessary.

KING COUNTY
Disaster Loan Outreach Center
North Bend City Hall - Conference Room
211 Main Avenue North
North Bend, WA  98045
Open Tuesday, May 20 thru Thursday, May 29
8:00 am – 4:30 pm
Closed Memorial Weekend - Saturday, May 24 thru Monday, May 26

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 2.188 percent for homeowners and renters, 2.625 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 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

The filing deadline to return applications for property damage is July 18, 2014.  The deadline to return economic injury applications is February 19, 2015. 

 

 

SBA Field Operations Center - West, P.O. Box 419004, Sacramento, CA 95841
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Release Number: 
WA 13988-01
Release Date: 
Monday, May 19, 2014
Contact: 
Richard Jenkins (916) 735-1500
Related State: 
Washington
Field Operations Center: 
West