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Low-interest federal disaster loans now available to businesses and residents of California following President Biden’s declaration of major disaster, said Isabella Casillas Guzman, administrator of the US Small Business Administration .
The statement covers Lassen, Nevada, Placer and Plumas counties following the wildfires that began on July 13.
“The SBA is strongly committed to providing California with the most effective, customer-centric response possible and access to federal disaster loans to help businesses and residents affected by this disaster,” said Guzman said. “Getting our businesses and communities up and running after a disaster is our top priority at SBA. “
In light of public health concerns from the coronavirus pandemic, starting Thursday, August 26, the SBA will establish a virtual business recovery center to provide personalized assistance to business owners. In addition, the SBA will also open a virtual disaster loan awareness center to assist homeowners and tenants. Customer Service Representatives will be available to business owners and individuals to answer questions about the SBA Disaster Loan Program, explain the application process, and help each person complete their electronic loan application. .
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Virtual disaster recovery center and Virtual Disaster Loan Assistance Center
Monday Friday (5 days / week)
8 a.m. to 8 p.m. Eastern Time
(800) 659-2955
Centers closed on Monday September 6 for Labor Day
Businesses of all sizes and private non-profit organizations can borrow up to $ 2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other commercial assets. The SBA can also lend additional funds to businesses and homeowners to help cover the cost of improvements to protect, prevent, or minimize the same type of damage from a disaster in the future.
For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private non-profit organizations of any size, SBA offers economic disaster loans to help meet the fund’s needs of turnover caused by the disaster. Economic Injury Assistance is available to businesses regardless of any material damage.
Disaster loans of up to $ 200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and tenants are entitled to up to $ 40,000 to repair or replace damaged or destroyed personal property.
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Interest rates can be as low as 2.88% for businesses, 2% for private nonprofits, and 1.625% for landlords and tenants with terms of up to 30 years. The amounts and terms of the loan are set by the SBA and are based on the financial status of each applicant.
To be considered for all forms of disaster assistance, survivors should first contact the Federal Emergency Management Agency at www.disasterassistance.gov. Applicants can apply online, receive additional information about disaster assistance, and download applications at https://disasterloanassistance.sba.gov/. Applicants can also call the SBA Customer Service Center at (800) 659-2955 or send an email [email protected] for more information on SBA Disaster Assistance. People who are deaf or hard of hearing can call (800) 877-8339. Completed applications should be mailed to US Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
About the United States Small Business Administration
The US Small Business Administration is making the American dream of business ownership a reality. As the only resource and voice for small businesses backed by the strength of the federal government, the SBA gives entrepreneurs and small business owners the resources and support they need to start, grow or grow their businesses, or grow their businesses. recover from a declared situation. disaster. It provides services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.
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