Disaster Field Operations Center West
SACRAMENTO, Calif. – Director Jeffrey Lusk of the U.S. Small Business Administration’s Disaster Field Operations Center-West today announced the opening of its Disaster Loan Outreach Center to meet the needs of businesses and individuals who were affected by Tropical Storm Hilary that occurred Aug. 19 – 21. The center will be located at the Cathedral City Branch Library beginning Tuesday, Sept. 26 in Cathedral City.
“SBA customer service representatives will be on hand at the following center to answer questions about SBA’s disaster loan program, explain the application process and help each individual complete their electronic loan application,” Lusk continued. The center will be open on the days and times indicated. No appointment is necessary.
RIVERSIDE COUNTY
Disaster Loan Outreach Center
Cathedral City Library, Study Room
Opens 1 p.m. Tuesday, Sept. 26
Mondays & Tuesdays, 10 a.m. – 6 p.m.
Wednesdays, 12 p.m. – 8 p.m.
Thursdays & Fridays, 10 a.m. – 6 p.m.
Closed Monday, Oct. 9 in Observance of Columbus Day
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.
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 assistance is available regardless of whether the business suffered any property damage.
Disaster loans up to $500,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for up to $100,000 to repair or replace damaged or destroyed personal property, including personal vehicles.
Interest rates can be as low as 4 percent for businesses, 2.375 percent for private nonprofit organizations and 2.5 percent for homeowners and renters with terms up to 30 years. Loan amounts and terms are set by SBA and are based on each applicant’s financial condition.
Interest does not begin to accrue until 12 months from the date of the first disaster loan disbursement. SBA disaster loan repayment begins 12 months from the date of the first disbursement.
Applicants may apply online, receive additional disaster assistance information and download applications at https://disasterloanassistance.sba.gov/. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. 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.
The deadline to apply for property damage is Nov. 21, 2023. The deadline to apply for economic injury is June 24, 2024.
