A Disaster Loan Outreach Center to meet the needs of businesses and individuals who were affected by the severe winter storms, flooding, landslides and mudslides is opening in San Luis Obispo. The center will be located at the San Luis Obispo Library beginning Saturday, Feb. 18 at 9:00 am.
Disaster Loan Outreach Center
San Luis Obispo Library
995 Palm Street
San Luis Obispo, CA 93401
Hours of Operation:
Tuesdays – Wednesdays, 10 a.m. – 6 p.m.
Thursdays – Fridays, 10 a.m. – 5 p.m.
Saturdays, 9 a.m. – 2 p.m.
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. SBA can also lend additional funds to businesses and homeowners to help with the cost of improvements to protect, prevent or minimize the same type of disaster damage from occurring in the future.
For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size, SBA offers 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.
SBA 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 3.305 percent for businesses, 2.375 percent for private nonprofit organizations and 2.313 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.
To be considered for all forms of disaster assistance, survivors must first register with the Federal Emergency Management Agency at www.disasterassistance.gov. FEMA representatives will also be at the Disaster Loan Outreach Center to assist with application submittals and to answer questions.
Applicants may apply online, receive additional disaster assistance information and download applications at https://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. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services. Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
The deadline to apply for property damage is March 16, 2023. The deadline to apply for economic injury is Oct. 16, 2023.
Original source can be found here.
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