Federal Loans Available To Help Small Businesses Affected By Civil Unrest New
Low-interest federal disaster loans are available to help small businesses in San Diego County affected by civil unrest that began on May 26, 2020 and lack the financial capacity to offset the impact negative without difficulties.
Small Business Administration economic disaster loans can reach up to $ 2 million and help meet financial obligations and operating expenses, such as payroll or fixed debts, that could have been honored. if civil unrest had not taken place. The loans are not intended to cover losses due to property damage, or general assistance related to COVID-19.
“These loans can be a critical first step for affected businesses, and we encourage anyone who is eligible to apply,” said Jeff Toney, director of the San Diego County Emergency Services Office.
The deadline for applying for loans is April 7, 2021. Completed applications can be mailed to the US Small Business Administration (SBA) Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
Disaster loans will have an interest rate of 3% for small businesses and 2.75% for private non-profit organizations with terms of up to 30 years.
Businesses can apply online, receive additional information about disaster assistance, and download applications from https://disasterloanassistance.sba.gov/. Applicants can also call the SBA Customer Service Center at (800) 659-2955 or email [email protected] for more information.
People who are deaf or hard of hearing can call (800) 877-8339.
Due to COVID-19, there will only be a virtual disaster recovery center available from 8:00 a.m. to 4:30 p.m. on weekdays at [email protected] and (916) 735-1500. The SBA will be available to answer questions, explain the application process, and help individuals complete their electronic loan application.