One Month Left to Apply for SBA Disaster Loans

Mar 27, 2017

SACRAMENTO, Calif. – District Director Carlos G. Mendoza of the U.S. Small Business Administration’s Fresno District Office today reminded California small businesses of the April 26, 2017, deadline to apply for an SBA federal disaster loan for economic injury caused by the Erskine Fire in Kern County that occurred June 23 - July 6, 2016.

 

According to Mendoza, small nonfarm businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size may apply for Economic Injury Disaster Loans of up to $2 million to help meet working capital needs caused by the disaster. “Economic Injury Disaster Loans may be used to pay fixed debts, payroll, accounts payable and other bills that cannot be paid because of the disaster’s impact. Economic injury assistance is available regardless of whether the applicant suffered any property damage,” Mendoza said.

 

These low-interest federal disaster loans are available in Inyo, Kern, Kings, Los Angeles, San Bernardino, San Luis Obispo, Santa Barbara, Tulare and Ventura counties.

 

The interest rate can be as low as 4 percent for businesses and 2.625 percent for private nonprofit organizations 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 SBA’s secure website 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 emailing disastercustomerservice@sba.gov. Individuals who are deaf or hard‑of‑hearing may call (800) 877-8339. For more disaster assistance information or to download applications, visit https://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.

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