Updated Friday, June 19
Disaster recovery loans from the U.S. Small Business Administration (SBA) are now available to all LA County small business owners and nonprofits who suffered physical damage or economic injury due to the recent civil unrest that began on May 26, 2020.
What It Is
Disaster assistance is being provided in the form of low-interest loans for: 1) property damage and/or 2) economic injury. Loan amounts & terms are set by the SBA and are based on an applicant’s financial condition. Interest rates can be as low as:
- 3 % for businesses and
- 2.75 % for private nonprofit organizations
Who Is Eligible
Property Damage Assistance
- Businesses of All Sizes & 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 to help with the cost of improvements to protect, prevent or minimize the same type of disaster damage from occurring in the future.
Economic Injury Assistance
- Small Businesses, Small Agricultural Cooperatives, Small Businesses Engaged in Aquaculture & Most Private Nonprofit Organizations of Any Size: may apply for 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.
When and How to Apply
Applications for Property Damage are due by August 17, 2020. Applications for Economic Injury are due by March 17, 2021.
- Online: applicants may apply online, receive additional disaster assistance information & download applications at disasterloanassistance.sba.gov.
- By Phone: interested applicants who do not have access to the internet, have limited computer proficiency or speak languages other than English may instead contact the County’s Disaster Help Center at (833) 238-4450. Multilingual counselors are standing by to assist applicants in completing the survey Monday through Friday, from 8:30 a.m. to 5:30 p.m.
- By Mail: Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
For More Information
Please contact a LA County Disaster Help Center counselor at (833) 238-4450 for additional information, and to learn more about disaster recovery resources available to LA County business owners.
Applicants may also contact the SBA via:
- SBA’s Virtual Disaster Loan Outreach Center: (916) 735-1500 (Mondays through Fridays, 8:00 a.m. to 4:30 p.m.); E-mail: FOCAWAssistance@sba.gov; staff will answer questions about SBA’s disaster loan program, explain the application process & help each individual complete their electronic loan application.
- SBA’s Customer Service Center: (800) 659-2955; individuals who are deaf or hard‑of‑hearing may call (800) 877-8339.
- E-mail: email@example.com for more information on SBA disaster assistance.
PLEASE NOTE: The Virtual Disaster Loan Center listed above is for Civil Unrest related assistance. The SBA will be establishing a Virtual Disaster Loan Outreach Center, in the future, for assistance with the COVID-19 pandemic.