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 Orcutt Disaster Loan Outreach Center at 5 p.m. on Friday, March 17 and the Solvang Disaster Loan Outreach Center at 2 p.m. on Saturday, March 18.
“SBA opened the centers to provide personalized assistance to California businesses and residents who were affected by the severe winter storms, flooding, landslides and mudslides that occurred Dec. 27, 2022 - Jan. 31, 2023. Until the Orcutt and Solvang centers close, SBA customer service representatives will continue to be available to meet with businesses and residents to answer their questions, explain SBA’s disaster loan program and close their approved disaster loans,” said Garfield.
Businesses and residents can meet with SBA representatives on the days and times indicated below. No appointment is necessary.
SANTA BARBARA COUNTY
Disaster Loan Outreach Center
Orcutt Union School District
500 Dyer St.
Orcutt, CA 93455
Mondays - Fridays, 9 a.m. – 5 p.m.
Closes at 5 p.m. Friday, March 17
SANTA BARBARA COUNTY
Disaster Loan Outreach Center
Solvang Superior Court
1745 Mission Dr.
Solvang, CA 93463
Tuesdays – Fridays, 9 a.m. – 6 p.m.
Saturdays, 9 a.m. – 2 p.m.
Closes at 2 p.m. Saturday, March 18
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 3.305 percent for businesses, 2.375 percent for private nonprofit organizations and 2.313 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://disasterloanassistance.sba.gov/. 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. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services. 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 March 16, 2023. The deadline to apply for economic injury is Oct. 16, 2023.
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Recently, U.S. SBA Administrator Isabella Casillas Guzman announced a policy change granting 12 months of no payments and 0% interest. This pertains to all disaster loans approved in response to disasters declared on or after September 21, 2022, through September 30, 2023. This covers SBA disaster loans currently available for Hurricane Fiona and Hurricane Ian. This policy change will benefit disaster survivors and help them to decrease the overall cost of recovery by reducing the amount of accrued interest they must repay. Details are available through the SBA Disaster Assistance Customer Service Center at (800) 659-2955. Individuals with verbal or hearing impairments may dial 7‑1-1 to access telecommunications relay services from 8:00 a.m. to 8:00 p.m. ET, Monday to Friday, or email: disastercustomerservice@sba.gov.
About the U.S. Small Business Administration
The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow, expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.