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UPDATED: SBA OFFERS DISASTER ASSISTANCE TO BUSINESSES AND RESIDENTS AFFECTED BY THE MOUNTAIN FIRE
Apply Now!
Thanks to legislation approved by Congress and signed by President Biden, SBA has received $2 billion to resume issuing disaster loans. Residents and businesses can now get the disaster loan assistance they need to recover from recent disasters across the nation.
SBA acted under its own authority to declare a disaster in response to a request SBA received from Gov. Gavin Newsom’s authorized representative, Director Nancy Ward, of the California Office of Emergency Services on November 25. The disaster declaration makes low-interest federal disaster loans available to residents and businesses the counties of Ventura, Santa Barbara, Los Angeles and Kern who were affected by the Mountain Fire that began November 6.
Applicants are encouraged to submit their loan applications. Learn more about the loan options below and view SBA’s Disaster Declaration HERE
Low-Interest Loans From SBA
The Small Business Administration (SBA) offers federal low-interest disaster loans to businesses of all sizes, most private nonprofit organizations, homeowners and renters. Click here to learn more about the lending options below. SBA Customer Service #: 1.800.659.2955. View SBA’s Loan Fact Sheet HERE
Loans for those in declared disaster areas:
- Business Physical Disaster Loans (APPLICATION DUE January 28, 2025):Businesses may borrow up to $2 million to repair or replace disaster-damaged property owned by the business, including real estate, inventories, supplies, machinery and equipment. Businesses of any size are eligible. Private, nonprofit organizations such as charities, churches, private universities, etc., are also eligible.
- Home Disaster Loans (APPLICATION DUE January 28, 2025): Homeowners or renters may borrow up to $500,000 for the repair or replacement of real estate and $100,000 to repair or replace personal property. Subject to these maximums, loan amounts cannot exceed the verified uninsured disaster loss.
- Economic Injury Disaster Loans (EIDL) (APPLICATION DUE August 29, 2025): Up to $2 million in working capital loans to help small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private, nonprofit organizations of all sizes meet their ordinary and necessary financial obligations that cannot be met as a direct result of the disaster. These loans are intended to assist through the disaster recovery period.
Do you need guidance applying for SBA disaster relief or have questions? The SBA has opened a Disaster Loan Outreach Center to help.
SBA Disaster Loan Outreach Center
Ventura County Community Foundation Building
EDC Meeting Room
4001 Mission Oaks Blvd. Suite A-1
Mondays – Fridays, 8:00 am – 5:00 pm
Closed: December 23, 24 & January 1
EDC Small Business Development Center is here to help your business during Disaster Recovery:
The EDC Small Business Development Center is providing NO-COST advising to businesses impacted by the disaster, including:
- Counseling for financial, accounting, marketing and other post-disaster challenges
- Management and technical assistance
- Business planning to help business owners re-establish their operations and plan for their future
- Assistance with updating or rewriting business plans
Call 805.409.9159 or CLICK HERE to get started.
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