SACRAMENTO, Calif. — The Small Business Administration said today that it is ready to help California small businesses and residents impacted by the ongoing wildfires through low-interest disaster loans.
The disaster loans are available as a result of President Bush's federal disaster declaration earlier this morning. The declaration covers the counties of Los Angeles, Orange, Riverside, San Bernardino, San Diego, Santa Barbara and Ventura as a result of the wildfires beginning Oct. 21.
For small businesses only, SBA offers Economic Injury Disaster Loans to help meet working capital needs caused by the disaster. EIDL assistance is available regardless of whether the business suffered any property damage. Businesses of any size and private non-profit organizations may borrow up to $1.5 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory, and other business assets.
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"We will be swift in our efforts to help California disaster victims rebuild their homes and businesses," said SBA Administrator Steve Preston. "Once local recovery facilities are identified in the declared areas, SBA officials will provide one-on-one assistance to disaster loan applicants."
To be considered for all forms of disaster assistance, victims must first call the Federal Emergency Management Agency at 1-800-621-3362, according to SBA.
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