SACRAMENTO, Calif.
– Director Tanya N. Garfield of the U.S. Small Business Administration’s Disaster Field Operations Center-West announced today that SBA will close its Upper Lake Disaster Loan Outreach Center in Lake County at 6 p.m. on Friday, Oct. 5.
“SBA opened the center to provide personalized assistance to California businesses and residents affected by the wildfires and high winds that began July 23, 2018. To date, SBA has approved nearly $1 million for businesses and more than $27.1 million for homeowners and renters to help them recover from this terrible disaster.
Until the Upper Lake center closes, SBA customer service representatives will continue to be available to meet with business owners and residents to answer their questions, explain SBA’s disaster loan program and close their approved disaster loans,” said Garfield. No appointment is necessary.
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LAKE COUNTY Mondays - Fridays, 9 a.m. - 6 p.m.
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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 3.61 percent for businesses, 2.5 percent for private nonprofit organizations and 1.938 percent 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
https://disasterloan.sba.gov/ela
. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email
disastercustomerservice@sba.gov
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 Oct. 3, 2018. The deadline to apply for economic injury applications is May 6, 2019.