SBA offers disaster loans to California businesses, residents affected by Caldor Fire
SOUTH LAKE TAHOE, Calif. — Low-interest federal disaster loans are available to California businesses and residents affected by the Caldor Fire, announced Administrator Isabella Casillas Guzman of the U.S. Small Business Administration.
SBA acted under its own authority to declare a disaster in response to a request SBA received from Gov. Gavin Newsom following the denial of the state’s appeal for a major disaster declaration for individual assistance.
The disaster declaration makes SBA assistance available in Alpine, Amador, El Dorado, Placer and Sacramento counties in California, and Douglas County in Nevada.
“SBA’s mission-driven team stands ready to help California’s small businesses and residents impacted by the Caldor Fire,” said Guzman. “We’re committed to providing federal disaster loans swiftly and efficiently, with a customer-centric approach to help businesses and communities recover and rebuild.”
“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 Director Tanya N. Garfield of the SBA’s Disaster Field Operations Center-West.
SBA customer service representatives are on hand at Green Valley Church in Placerville, 3500 Missouri Flat Road, Room No. 304, Mondays, Wednesdays and Fridays from 9 a.m. to 6 p.m., and Thursdays from 9 a.m. to 5:30 p.m. to answer questions about the disaster loan program, explain the application process and help individuals complete applications. No appointment is necessary.
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 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 2.855% for businesses, 2% for private nonprofit organizations and 1.563% 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 disasterloanassistance.sba.gov. Applicants may also call SBA’s customer service center at 800-659-2955 or email firstname.lastname@example.org 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 is Feb. 7, 2022. The deadline to apply for economic injury is Sept. 12, 2022.
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