Disaster assistance available for small businesses
Santa Paula News
Published: October 22, 2008
Small, non-farm businesses in the primary county of Santa Barbara and the neighboring California counties of Kern, San Luis Obispo and Ventura are eligible to apply for low-interest disaster loans from the U.S. Small Business Administration (SBA).
Small, non-farm businesses in the primary county of Santa Barbara and the neighboring California counties of Kern, San Luis Obispo and Ventura are eligible to apply for low-interest disaster loans from the U.S. Small Business Administration (SBA).
“These loans offset economic losses because of reduced revenues caused by a fire that occurred in Santa Barbara County beginning July 1, 2008,” announced Alfred E. Judd, director of SBA’s Disaster Field Operations Center – West. Small businesses and most private, non-profit organizations of any size may qualify for Economic Injury Disaster Loans (EIDLs) of up to $2 million to help meet financial obligations and operating expenses which could have been met had the disaster not occurred.
“Eligibility for these loans is based on the financial impact of the disaster only and not on any actual property damage. These loans have an interest rate of 4%, a maximum term of 30 years, and are available to small businesses and most private non-profits without the financial ability to offset the adverse impact without hardship,” Judd said.
By law, SBA makes EIDLs available when the U.S. Secretary of Agriculture designates an agricultural disaster. Secretary Ed Schafer declared these disasters at the request of Governor Arnold Schwarzenegger.
Businesses primarily engaged in farming or ranching are not eligible for SBA disaster assistance. Agricultural enterprises should contact the Farm Services Agency about the U.S. Department of Agriculture assistance made available by the Secretary’s declaration.
Information and application forms are available from SBA’s Customer Service Center by calling (800) 659-2955, emailing disastercustomerservice@sba.gov, or visiting SBA’s website at www.sba.gov/services/disasterassistance. Hearing impaired individuals may call (800) 877-8339. SBA’s Electronic Loan Application is accessible via SBA’s secure website at https://disasterloan.sba.gov/ela.
The deadline to apply for these loans is June 3, 2009.
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