SACRAMENTO — Francisco Sánchez Jr., associate administrator for the Office of Disaster Recovery and Resilience at the Small Business Administration, (on Sept. 11) reminded California small businesses of the Oct. 10, 2024, deadline to apply for an SBA federal disaster loan for economic injury caused by the December 2023 Storm and Flooding in Ventura County that occurred Dec. 21-23, 2023.
According to Sánchez, 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 of up to $2 million to help meet working capital needs caused by the disaster. “Economic Injury Disaster Loans may be used to pay fixed debts, payroll, accounts payable and other bills that cannot be paid because of the disaster’s impact. Economic injury assistance is available regardless of whether the applicant suffered any property damage,” Sánchez said.