SAN DIEGO COUNTY DISASTER LOAN OUTREACH CENTERS NOW OPEN FOR SMALL BUSINESSES AND NONPROFITS
The state/federal disaster recovery centers in Mountain View and Spring Valley have officially closed, but the help for businesses and private nonprofits impacted by the January floods is not over. These recovery centers will now be converted into Small Business Administration Disaster Loan Outreach Centers starting on Monday.
According to Africa Rosas, a spokesperson with SBA, small businesses, private nonprofits, homeowners, and renters are all eligible for these loans. There are two types of loans available – one for damages to a business or home due to the flooding, and the other for economic injury suffered by small business owners and private nonprofit organizations.
While the deadline to apply for a loan for property damage has passed, small businesses and most private nonprofit organizations still have until November 19 to apply for an economic injury disaster loan. Interest rates for these loans can be as low as 4% for businesses and 3.25% for private nonprofit organizations, with terms up to 30 years. Interest does not begin to accrue until 12 months from the date of the first loan disbursement.
Rosas emphasized that the SBA is committed to the long-term recovery of the residents of San Diego. Appointments are not necessary to apply for these loans, and applicants can apply online or get more information at SBA.gov/disaster. They can also call SBA’s Customer Service Center at (800) 659-2955 or email [email protected] for assistance.
The Disaster Loan Outreach Center at Mountain View Community Center Meeting Room and Spring Valley Library will be open on specific days and times to assist with loan applications. The centers will provide valuable resources and support for those affected by the January floods in San Diego County.
