SACRAMENTO, Calif. – The U.S. Small Business Administration today announced the opening of a SBA Business Recovery Center in Los Angeles on Friday, Feb. 2, 2024, to provide a wide range of services to businesses impacted by Interstate 10 fire and road closures that occurred Nov. 11 - 19, 2023. The center will open as indicated below.
“Due to the economic losses inflicted on California small businesses, we want to provide every available service to help get them back on their feet,” said Associate Administrator Francisco Sánchez of the U.S. Small Business Administration’s Office of Disaster Recovery & Resilience. “SBA customer service representatives will be available to meet with each business owner to answer questions about SBA’s disaster loan program, explain the application process and help each business owner complete their application,” he added. No appointment is necessary. The center will be open until further notice.
LOS ANGELES COUNTY
Business Recovery Center
Downtown Industrial District Business Improvement District (BID)
725 Crocker St.
Los Angeles, CA 90021
Opens at 12 p.m. Friday, Feb. 2
Mondays – Fridays, 8:00 a.m. – 4:30 p.m.
On Thursday, Feb. 15 only, 12:30 p.m. – 4:30 p.m.
For business owners who are unable to visit the Business Recovery Center, the following Virtual Business Recovery Center is also available to assist small businesses with their applications.
VIRTUAL BUSINESS RECOVERY CENTER
Monday – Friday (5 days/week)
8:00 a.m. – 4:30 p.m.
FOCWAssistance@sba.gov
(916) 735-1501
“Small nonfarm businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size may qualify for Economic Injury Disaster Loans of up to $2 million to help meet financial obligations and operating expenses which could have been met had the disaster not occurred,” said Sánchez.
“These loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact. Disaster loans can provide vital economic assistance to small businesses to help overcome the temporary loss of revenue they are experiencing,” Sánchez added.
Eligibility is based on the financial impact of the disaster only and not on any actual property damage. These loans have an interest rate of 4 percent for small businesses and 3.25 percent for private nonprofit organizations with terms up to 30 years.
Interest does not begin to accrue until 12 months from the date of the first disaster loan disbursement. SBA disaster loan repayment begins 12 months from the date of the first disbursement.
Applicants can also apply or obtain additional disaster assistance information at SBA.gov/disaster. 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.
The deadline to apply for economic injury is Oct. 28, 2024.
###
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.
Disaster press release
CA 20168-02