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SBA offers disaster assistance to Powerhouse Fire victims

Posted: June 25, 2013 2:23 p.m.
Updated: June 25, 2013 2:23 p.m.
 

SACRAMENTO, Calif. - Low-interest federal disaster loans are available to California residents and business owners affected by the Powerhouse Fire that occurred in Los Angeles County from May 30 - June 11, 2013, U. S. Small Business Administration (SBA) Administrator Karen G. Mills announced today. SBA acted under its own authority to declare a disaster in response to a request SBA received from Governor Edmund G. Brown's designated representative, Mark Ghilarducci, Secretary of the California Emergency Management Agency, on June 20.

The disaster declaration makes SBA assistance available in Los Angeles County and the neighboring counties of Kern, Orange, San Bernardino, and Ventura.

"The U. S. Small Business Administration is strongly committed to providing California with the most effective and customer-focused response possible, and we will be there to provide access to federal disaster loans to help finance recovery for residents and businesses affected by the disaster," said Mills. "Getting our businesses and communities up and running after a disaster is our highest priority at SBA."

"Low-interest federal disaster loans are available to homeowners, renters, businesses of all sizes and private, nonprofit organizations whose property was damaged or destroyed by this disaster," said SBA's Los Angeles District Director Victor Parker. "Beginning Wednesday, June 26 at 8 am SBA representatives will be on hand at the following 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 continued. The center will be open on the days and times indicated. No appointment is necessary.

Los Angeles County

Disaster Loan Outreach Center

Hughes-Elizabeth Lakes Union Elementary School District

16633 Elizabeth Lake Road, Lake Hughes, CA 93532

Opens Wednesday, June 26 at 8 am

Hours: 8 am - 4:30 pm; Monday thru Friday

Closed for Independence Day Holiday, Thursday July 4

The center will close on Thursday, July 11 at 4:30 pm

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, small agricultural cooperatives, small businesses engaged in aquaculture, and most private, nonprofit organizations of any size, 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 1.875 percent for homeowners and renters, 2.875 percent for private, nonprofit organizations, and 4 percent for businesses, with terms up to 30 years. Loan amounts and terms are set by SBA and are based on each applicant's financial condition.

Applicants may apply online using the Electronic Loan Application (ELA) 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 (800) 659-2955, e-mailing disastercustomerservice@sba.gov or visiting SBA's Web site at http://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 August 26, 2013. The deadline to return economic injury applications is March 25, 2014.

Note: The Signal delivers press releases from reliable sources to provide up-to-the-minute information to our website readers. Information directly from news sources has not been vetted by The Signal news room. It may appear subsequently in news stories after it has been vetted.

 

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