SBA Tops $400 Million in Disaster Assistance Loans

Targeted News Service (Press Releases)

SACRAMENTO, California, April 5 -- The Small Business Administration's Office of Disaster Assistance issued the following news release:

Director Tanya N. Garfield of the U.S. Small Business Administration's Disaster Field Operations Center-West announced today that SBA has approved more than $401 million in federal disaster loans for California businesses and residents impacted by wildfires in Butte, Los Angeles and Ventura counties that occurred Nov. 8-25, 2018. According to Garfield, SBA has approved $34,628,400 for businesses and $366,363,400 for residents to help rebuild and recover from this disaster.

"SBA's disaster assistance employees are committed to helping businesses and residents recover as quickly as possible," said Garfield. "Although the deadline to apply for property damage loans has expired, small businesses and most private nonprofit organizations of any size may continue to apply for an Economic Injury Disaster Loan to help meet working capital needs caused by the disaster. Economic injury assistance is available regardless of whether the business or nonprofit organization suffered any property damage," she added.

SBA continues to provide one-on-one assistance to disaster loan applicants at the following locations on the days and times indicated. No appointment is necessary.

BUTTE COUNTY

Disaster Loan Outreach Center

St. John's Episcopal Church

2341 Floral Ave.

Chico, CA 95926

Tuesdays - Saturdays, 9 a.m. - 5:30 p.m.

For small businesses and most private nonprofit organizations of all sizes, 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. These low-interest federal disaster loans are available in Butte, Colusa, Glenn, Kern, Los Angeles, Orange, Plumas, San Bernardino, Santa Barbara, Sutter, Tehama, Ventura and Yuba.

The interest rate is 3.74 percent for businesses and 2.75 percent for private nonprofit organizations with terms up to 30 years. The deadline to apply for economic injury is Aug. 12, 2019.

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.