SBA to Close Business Recovery Center in Santa Rosa

SACRAMENTO, Calif., Nov. 11 -- The Small Business Administration's Office of Disaster Assistance issued the following news release:

The U.S. Small Business Administration and the Napa/Sonoma Small Business Development Center today announced the closing of the Business Recovery Center in Santa Rosa on Wednesday, Nov. 15 at 6 p.m. "SBA opened the center to provide personalized assistance to businesses that were affected by the wildfires that occurred Oct 8-31, 2017, said Director Tanya N. Garfield of SBA's Disaster Field Operations Center-West.

Until the center closes, SBA representatives will continue to meet with business owners to answer their questions and help them apply for a disaster loan. SBDC consultants will also provide counseling on a wide variety of matters designed to help small business owners re-establish their operations, overcome the effects of the disaster and plan for their future. SBDC services include assessing business working capital needs, evaluating the business's strength, cash flow projections and most importantly, a review of all options to ensure each business makes decisions that are appropriate for its situation.

No appointment is necessary. All services are provided free of charge.

SONOMA COUNTY

Business Recovery Center

The Courtyard

141 Stony Circle, Suite 155

Santa Rosa, CA 95401

Monday - Wednesday, 9 a.m. - 6 p.m.

Closes 6 p.m. Wednesday, Nov. 15

Additionally, SBA representatives continue to meet with business owners and residents at the Disaster Recovery Centers and Local Assistance Centers located in the disaster area. At the centers SBA representatives answer questions about SBA's disaster loan program, explain the application process and help each individual complete their electronic loan application.

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. These loans cover losses that are not fully covered by insurance or other recoveries.

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 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 damaged or destroyed real estate. Homeowners and renters are eligible for up to $40,000 to repair or replace damaged or destroyed personal property.

Interest rates can be as low as 3.305 percent for businesses, 2.5 percent for private nonprofit organizations and 1.75 percent for homeowners and renters 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, receive additional disaster assistance information and download applications at https://disasterloan.sba.gov/ela. Applicants may also call SBA's Customer Service Center at (800) 659-2955 or email [email protected] (link sends e-mail) for more information on SBA disaster assistance. Individuals who are deaf or hard of hearing may call (800) 877-8339. Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

The deadline to apply for property damage loans is Dec. 11, 2017. The deadline for economic injury loans is July 12, 2018.

This document was posted showing the date: Nov. 10, 2017.