District Director Mark Quinn of the U.S. Small Business Administration’s (SBA) San Francisco District Office, on Monday reminded small businesses of the June 22, 2016, deadline to apply for an SBA federal disaster loan for economic injury caused by the Valley and Butte Fires in Lake and Calaveras counties that occurred Sept. 9 - Oct. 30, 2015.
According to Quinn, small nonfarm businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size may apply for Economic Injury Disaster Loans (EIDLs) of up to $2 million to help meet working capital needs caused by the disaster.
“EIDLs may be used to pay fixed debts, payroll, accounts payable and other bills that cannot be paid because of the disaster’s impact. EIDL assistance is available regardless of whether the applicant suffered any property damage,” Quinn said.
These low-interest federal disaster loans are available in Alpine, Amador, Calaveras, Colusa, Glenn, Lake, Mendocino, Napa, San Joaquin, Sonoma, Stanislaus, Tuolumne and Yolo counties in California.
The interest rate is 4 percent for businesses and 2.625 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. Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at https://disasterloan.sba.gov/ela.
Disaster loan information and application forms are also available from SBA’s Customer Service Center by calling (800) 659-2955 or emailing email@example.com. Individuals who are deaf or hard of hearing may call (800) 877-8339. For more disaster assistance information or to download applications, visit https://www.sba.gov/disaster. Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.