SACRAMENTO — The U.S. Small Business Administration is offering low-interest federal disaster loans for working capital to small businesses economically impacted by the flooding due to extreme snowmelt that occurred June 17-29, 2017, SBA Administrator Linda McMahon announced today. SBA acted under its own authority to declare a disaster following a request received on Aug. 25, 2017, from Gov. Edmund G. Brown, Jr.’s designated representative, Director Mark S. Ghilarducci of the Governor’s Office of Emergency Services.
The disaster declaration makes SBA assistance available in Fresno, Inyo, Kern, Kings, Madera, Merced, Mono, Monterey, San Benito and Tulare counties.
“SBA is strongly committed to providing the most effective and customer-focused response possible to assist California’s small businesses with federal disaster loans. We will be swift in our efforts to help these small businesses recover from the financial impacts of this disaster,” said Administrator McMahon.
“Small, nonfarm businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size may qualify for Economic Injury Disaster Loans of up to $2 million to help meet financial obligations and operating expenses which could have been met had the disaster not occurred,” said SBA’s Fresno District Director Carlos Mendoza.
“These loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact. Disaster loans can provide vital economic assistance to small businesses to help overcome the temporary loss of revenue they are experiencing,” Mendoza added.
Eligibility is based on the financial impact of the disaster only and not on any actual property damage. These loans have an interest rate of 3.215Â percent for small businesses and 2.5Â percent for private nonprofit organizations with terms up to 30Â years and are restricted to small businesses without the financial ability to offset the adverse impact without hardship.
The California Fresno Small Business Development Center is offering free, personalized counseling to help affected businesses in their recovery. Businesses may contact the office at (559) 278-3712 or by visiting their office at Fresno State’s, Office of Community and Economic Development, 550 E Shaw Ave #100, Fresno, CA 93710.
Applicants may apply online, receive additional disaster assistance information and download applications at https://disasterloan.sba.gov/ela. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov(link sends e-mail) for more information on SBA disaster assistance. Individuals who are deaf or hard‑of‑hearing may call (800) 877-8339. Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
The filing deadline to return economic injury applications is May 30, 2018.
–U.S. Small Business Administration
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