• June 9, 2020

Deadline Approaching: Disaster Assistance for Business Owners For Damages Due to Civil Unrest

Deadline Approaching: Disaster Assistance for Business Owners For Damages Due to Civil Unrest

Deadline Approaching: Disaster Assistance for Business Owners For Damages Due to Civil Unrest 150 150 Business & Worker Disaster Help Center
Updated Tuesday, Aug. 18

From the U.S. Small Business Administration: Director Tanya N. Garfield of the U.S. Small Business Administration’s Disaster Field Operations Center-West today reminded California businesses and residents of the Sept. 16, 2020 deadline to apply for an SBA federal disaster loan for property damage caused by the civil unrest that began May 26, 2020.

According to Garfield, businesses of all sizes, most private nonprofit organizations, homeowners and renters may apply for SBA federal disaster loans to repair or replace disaster-damaged property. SBA can also lend additional funds to help with the cost of improvements to protect, prevent or minimize the same type of disaster damage from occurring in the future.

These low-interest federal disaster loans are available in Alameda, Contra Costa, Kern, Los Angeles, Orange, San Bernardino, San Francisco, San Joaquin, San Mateo, Santa Clara, Stanislaus and Ventura counties in California.

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.

In addition, SBA offers Economic Injury Disaster Loans to small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size to help meet working capital needs caused by the disaster. Economic injury assistance is available regardless of whether the business suffered any property damage. The deadline to apply for an SBA economic injury disaster loan is March 17, 2021.

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 percent for businesses, 2.75 percent for private nonprofit organizations and 1.25 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 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. 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.

ORIGINAL JUNE 9 ANNOUNCEMENT:

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-maildisastercustomerservice@sba.gov 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.

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