Individuals and businesses who need help with property or income losses connected with the 2015 wildfires can still apply to the Small Business Administration (SBA) for low-interest loans, but applications have to be made by mail or online now that local outreach centers have closed.
The loans — up to $200,000 — are available to renters and homeowners to repair or replace damaged or destroyed real estate. These individuals can also apply for up to $40,000 for damaged or destroyed personal property.
Businesses of all sizes and most private nonprofits can apply for loans up to $2 million to repair or replace damaged or destroyed real estate, equipment and inventory, as well as to prevent future damage.
SBA also offers what are called economic-injury loans, which make up for a loss in revenue collected by small businesses and farmers because of the fire. The business does not have to have had property damage.
The SBA loan process allows businesses to make a case for how fire or smoke contributed to a loss of income, according to Michael Flores, a public information officer for SBA.
The disaster period covered by SBA’s declaration is Aug. 9 through Sept. 10.
Interest rates can be as low as 1.875 percent for homeowners and renters, 4 percent for businesses, and 2.625 percent for nonprofits.
Information and applications are available from SBA’s at (800) 659-2955 or by email to disastercustomerservice@sba.gov. Information is available online at www.sba.gov/disaster. Applications may be made online at disasterloan.sba.gov/ela.
The deadline to apply for property-damage loans is Dec. 28. The deadline for economic-injury applications is July 28, 2016.
