SBA to Re-Open Disaster Loan Outreach Center in Los Angeles County

Posted by on Jan 12th, 2012 and filed under Between Friends. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

The U.S. Small Business Administration is offering financial assistance to homeowners and businesses that were damaged during the windstorms from Nov. 30 through Dec. 4. Several homes, like this one on Burritt Way, had tree branches snap off or entire trees topple over.

The U.S. Small Business Administration is offering financial assistance to homeowners and businesses that were damaged during the windstorms from Nov. 30 through Dec. 4. Several homes, like this one on Burritt Way, had tree branches snap off or entire trees topple over.

Victor Parker, district director of the U.S. Small Business Administration’s (SBA) Los Angeles District office, reminded homeowners and business owners in five California counties that SBA will re-open a Disaster Loan Outreach Center to provide personal service to victims of the Los Angeles County High Winds that occurred from Nov. 30 through Dec. 4, 2011.

Residents and business owners in Los Angeles County and the neighboring counties of Kern, Orange, San Bernardino and Ventura are eligible to apply for these disaster loans.

SBA resumed operations in Pasadena on Jan. 9. The location for the Los Angeles County Disaster Loan Outreach Center-Pasadena Fire Headquarters is 199 S. Los Robles Ave., Suite 550, 5th floor, across from the Hilton Hotel. Validated underground parking is available.

“SBA customer service representatives will be on hand at the Disaster Loan Outreach Center to issue loan applications, answer questions about SBA’s disaster loan program, explain the application process, and help each individual complete their application,” Parker said.

The center will be open Mondays through Fridays, Jan. 9 through Jan. 20 from 9 a.m. to 5:30 p.m. No appointment is necessary.

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.

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. SBA can also lend additional funds to homeowners and businesses to help with the cost of making improvements that protect, prevent or minimize the same type of disaster damage from occurring in the future.

For small businesses and most private, nonprofit organizations of any size and aquaculture businesses, SBA offers Economic Injury Disaster Loans (EIDLs) to help meet working capital needs caused by the disaster.  EIDL assistance is available regardless of whether the business suffered any property damage.

Interest rates can be as low as 2.063% for homeowners and renters, 3% for private, nonprofit organizations and 4% for businesses, with terms up to 30 years.  Loan amounts and terms are set by SBA and are based upon each applicant’s financial condition.

Applicants may apply online via SBA’s secure Web site at https://disasterloan.sba.gov/ela.

Disaster loan information and application forms are also available from SBA’s Customer Service Center by calling SBA at (800) 659-2955, emailing disastercustomerservice@sba.gov or by visiting SBA’s website at www.sba.gov/services/disasterassistance.

Individuals who are deaf or hard of hearing may call (800) 877-8339.

The filing deadline to return applications for property damage is Feb. 17.  The deadline to return economic injury applications is Sept. 19, 2012.

For more information, visit SBA’s Web site at www.sba.gov.

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