U.S. SBA Offers Business Disaster Recovery Resources for Wildfire Victims

Dec 13 2018 - General - HRWatchdog

The SBA is offering loans of various amounts for businesses and homeowners affected by last month’s wildfires.

As many Californians are getting ready for the holiday season, the victims of last month’s wildfires in both Northern and Southern California are still recovering, with many organizations assisting in the recovery. The U.S. Small Business Administration (SBA) has joined the recovery efforts by offering SBA Business Recovery Centers throughout the affected areas, where SBA provides one-on-one assistance to disaster loan applicants.

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. 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.

The application filing deadline for physical damage is January 11, 2019 and for economic injury is August 12, 2019. The full SBA fact sheet is available in both English and Spanish on the SBA website.

For more information on locations for the recovery centers, see the Disaster Loan Assistance page on the SBA website or by calling the SBA Customer Service Center at (800) 659-2955.

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