Small Businesses Can Apply For Federal Disaster Loans – NBC Los Angeles

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Small businesses economically affected by the oil pipeline spill off the southern California coast are now eligible to receive federal disaster loans from the US Small Business Administration.

A virtual business recovery center can help determine program eligibility, made possible by a disaster declaration that followed the oil spill off the coast of Huntington Beach. The disaster declaration makes SBA assistance available in Los Angeles, Orange, San Diego, Riverside, and San Bernardino counties.

The deadline to apply for the loans is July 27.

Eligibility is based only on the financial impact of the disaster and not on actual property damage. These loans have an interest rate of 2.855% for small businesses and 2% for private non-profit organizations with terms of up to 30 years and are limited to small businesses without the financial capacity to compensate. negative impact without difficulties.

The oil spill began off the coast near Huntington Beach in Orange County on October 2.

“Small non-farm businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private non-profit organizations of any size can benefit from economic disaster loans of up to $ 2 million. dollars to help meet financial obligations and operating expenses that might have been covered in the event of a disaster. did not happen, “said Tanya Garfield, director of the SBA’s Disaster Field Operations Center.” she said.

Loan applicants can apply online, receive additional information about disaster assistance, and download applications. Applicants can also call the SBA Customer Service Center at 800-659-2955 or email astercustomerservice@sba.gov for more information on SBA Disaster Assistance.

People who are deaf or hard of hearing can call 800-877-8339.

Completed applications should be mailed to US Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, Texas, 76155.

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