SACRAMENTO, Calif. – The State/Federal Disaster Recovery Centers in Elk Chattaroy and Medical Lake will convert to U.S. Small Business Administration’s Disaster Loan Outreach Centers beginning April 29.
“At this stage of the recovery process, the emphasis for assistance is to meet the long-term needs of businesses and individuals that were impacted by wildfires that occurred Aug. 18 – 25, 2023,” said Francisco Sánchez Jr., associate administrator for the Office of Disaster Recovery and Resilience at the Small Business Administration. “The transition of the Medical Lake and Elk Chattaroy Disaster Recovery Centers to SBA Disaster Loan Outreach Centers will better meet the current needs of Spokane County residents.”
“SBA customer service representatives will continue to answer questions, explain the application process, help businesses apply for a low-interest disaster loan and close their approved disaster loans,” Sánchez continued. The Disaster Loan Outreach Centers will be open on the days and times indicated. No appointment is necessary.
Spokane County
Disaster Loan Outreach Center
Country Church of the Open Bible
40015 N Collins Road
Elk, WA 99009
Opens 8:30 a.m. Monday, April 29
Mondays - Fridays, 8:30 a.m. – 5 p.m.
Closes 5 p.m. Friday, May 10
Spokane County
Disaster Loan Outreach Center
Medical Lake City Hall
124 S Lefevre Street
Medical Lake, WA 99022
Opens 8:30 a.m. Tuesday, April 30
Tuesdays - Fridays, 8:30 am – 5 p.m.
Saturdays, 9 a.m. – 3 p.m.
Closes 3 p.m. Saturday, May 11
“SBA’s low-interest federal disaster loans are available to 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 help with the cost of improvements to protect, prevent or minimize 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.
Although the deadline to apply for a loan for property damage has passed, small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size still have until Nov. 20 to apply for an economic injury disaster loan to help meet working capital needs caused by the disaster. Economic injury loan assistance is available regardless of whether the business suffered any property damage.
Interest rates can be as low as 4 percent for businesses and 2.375 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.
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 may apply online and receive 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.
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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.