California Businesses and Residents Affected by Severe Storms and Flooding
SACRAMENTO — Low-interest federal disaster loans are available to California businesses and residents affected by severe storms and flooding that occurred Feb. 1-25, 2017, U.S. Small Business Administration’s Administrator Linda McMahon announced today. SBA acted under its own authority to declare a disaster in response to a request SBA received from Gov. Edmund G. Brown, Jr.’s designated representative, Mark S. Ghilarducci, director of the Governor’s Office of Emergency Services, on March 17, 2017.
The disaster declaration makes SBA assistance available in Santa Cruz County.
“Low-interest federal disaster loans are available to businesses of all sizes, most private nonprofit organizations, homeowners and renters whose property was damaged or destroyed by this disaster,” said SBA’s acting Regional Administrator Robert Blaney. “Beginning Wednesday, March 22, 2017, SBA representatives will be on hand at the following Disaster Loan Outreach Centers to answer questions about SBA’s disaster loan program, explain the application process and help each individual complete their application,” Blaney continued.
The centers will be open on the days and times indicated below until further notice. No appointment is necessary and there is no cost to apply.
Santa Cruz County Disaster Loan Outreach Center
Santa Cruz County Governmental Center 701 Ocean St. Third Floor, Elections Office
The filing deadline to return applications for property damage is May 19, 2017. The deadline to return economic injury applications is Dec. 20, 2017. Applicants may apply online using SBA’s secure website at disasterloan.sba.gov/ela.
Businesses of all sizes 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 businesses and homeowners to help with the cost of improvements to 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 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 1.875 percent for homeowners and renters with terms up to 30 years, 2.5 percent for private nonprofit organizations and 3.15 percent for businesses. Loan amounts and terms are set by SBA and are based on each applicant’s financial condition.
Disaster loan information and application forms are also available from SBA’s Customer Service Center by calling (800) 659-2955 or emailing email@example.com. Individuals who are deaf or hard-of-hearing may call (800) 877-8339. For more disaster assistance information or to download applications, visit www.sba.gov/disaster. Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.