The U.S. Small Business Administration (SBA) is stepping up to support Southern California residents and businesses affected by recent wildfires and straight-line winds. With President Joe Biden’s major disaster declaration, a range of federal disaster loans and financial assistance programs are now available to help those impacted recover and rebuild.

Relief for Homeowners, Renters, and Businesses

Administrator Isabel Casillas Guzman has announced that the SBA is mobilizing to assist impacted businesses, renters, and homeowners by offering low-interest disaster loans. This aid applies to Los Angeles and neighboring counties of Kern, Orange, San Bernardino, and Ventura, as the region grapples with the aftermath of devastating natural events.

Key Loan Features:

Economic Injury Disaster Loans (EIDLs): Designed for small businesses, agricultural cooperatives, and most private nonprofit (PNP) organizations. These loans help meet working capital needs caused by the disaster, even in cases where no physical damage has occurred. Businesses can apply for loans up to $2 million to cover fixed debts, payroll, accounts payable, and other expenses.

Homeowners and Renters Assistance: Homeowners can access loans of up to $500,000 to repair or replace damaged real estate, while renters and homeowners can borrow up to $100,000 for personal property, including vehicles.

Interest Rates:

4% for businesses

3.625% for PNP organizations

2.563% for homeowners and renters Terms extend up to 30 years, with specific amounts and terms determined by each applicant’s financial condition.

Applicants may defer the first payment for up to 12 months from the loan disbursement date.

Application Process

How to Apply:

Visit the SBA disaster assistance portal: https://lnkd.in/eSCBzVrU

Call: 1-800-659-2955

Email: disastercustomerservice@sba.gov

SBA representatives are also available to provide one-on-one assistance to disaster loan applicants. Services for the deaf and hard of hearing are available through the telecommunications relay service by dialing 7-1-1.

Administrator Guzman’s Visit to Southern California

To ensure on-the-ground needs are met, SBA Administrator Guzman will join FEMA Administrator Deanne Criswell in assessing the impacted areas this week. Their visit underscores the federal government’s commitment to ensuring businesses, homeowners, and renters can recover and rebuild quickly.

“As heroic firefighters and first responders continue to battle the devastating wildfires sweeping across Southern California, the federal government is working tirelessly to provide financial relief to impacted communities. Our continued prayers are with the brave individuals working to protect lives, homes, and businesses,” said Administrator Guzman.

Additional Resources

For more details about SBA disaster assistance and loan programs, visit:

https://sba.gov/disaster

This financial relief is part of a larger effort to ensure Southern California can recover from this catastrophe and rebuild for the future. Whether you’re a homeowner needing repairs or a business owner looking to stabilize your operations, the SBA’s disaster assistance loans provide critical support during this challenging time.



About Addition Building & Design At Addition Building & Design, we specialize in creating resilient, high-performance homes and outdoor living spaces to withstand challenges like wildfires and other natural disasters. With over two decades of experience, our team is committed to designing safe and sustainable spaces for Southern California families.

For expert advice on building fire-resistant homes or exploring design-build services, contact us today. Let’s rebuild stronger, together.

Visit: www.AdditionBuildingDesign.com
Phone: 310.617.2722 (Mike Ross, CEO)
818.207.5535 (Christine Ross, Managing Partner)