Low-interest federal disaster loans are now available to businesses and residents from the U.S. Small Business Administration. The Major Disaster Declaration includes Tulare County as a result of the severe winter storms and flooding that began Feb. 21, 2023, and continues.
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.
Representatives from the U.S. Small Business Administration are also available at the recovery centers to provide program information and explain how to apply for SBA’s low-interest disaster loans. These loans are offered to homeowners and renters, business owners and private nonprofits.
At the Business Recovery Center, business counselors can provide business assistance to clients on a wide variety of matters designed to help small business owners re-establish their operations, overcome the effects of the disaster and plan for their future.
Businesses of any size 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. These loans cover losses that are not fully covered by insurance or other recoveries.
For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private, nonprofit organizations of any size, SBA offers Economic Injury Disaster Loans to help meet working capital needs caused by the disaster. Economic Injury Disaster Loan assistance is available regardless of whether the business suffered any property damage.
For business owners who are unable to visit the business recovery center, they may apply online using SBA’s secure website at https://disasterloanassistance.sba.gov/.
SBA representatives will meet with business owners and residents at disaster recovery centers located throughout the impacted area as they are established. For a list of locations, or to receive additional disaster assistance information, visit SBA’s website at www.sba.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information. For people who are deaf, hard of hearing, or have a speech disability, please dial 7 1 1 to access telecommunications relay services. Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
SBA deadlines to apply for property damage is June 2, 2023. The deadline to apply for economic injury is Jan. 3, 2024.