Low-interest federal disaster loans are available to California residents and business owners affected by the severe winter storms, flooding, and debris and mud flows that occurred December 17, 2010 through January 4, 2011, U. S. Small Business Administration (SBA) Administrator Karen G. Mills announced today.  SBA acted under its own authority to declare a disaster following the denial on January 27, 2011 of the state’s request for a major disaster declaration.

The disaster declaration makes SBA assistance available in the California counties of Inyo, Kern, Kings, Los Angeles, Monterey, Orange, Riverside, San Bernardino, San Diego, San Luis Obispo and Santa Barbara, the neighboring Arizona counties of La Paz and Mohave and the neighboring Nevada county of Clark.

“The U. S. Small Business Administration is strongly committed to providing the most effective and customer-focused response possible to assist those residents and businesses affected by the severe winter storms, flooding, and debris and mud flows with federal disaster loans,” 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, non-profit organizations whose property was damaged or destroyed by the disaster,” said Elizabeth Echols, SBA’s Regional Administrator.  Beginning Tuesday, February 8, customer service representatives will be on hand at the following SBA Disaster Loan Outreach Centers to issue loan applications, answer questions about SBA’s disaster loan program, explain the application process and help each individual complete their application.  The centers will be open on the days and times indicated.  No appointment is necessary.

San Luis Obispo County
Disaster Loan Outreach Center
Ramona Garden Park Center
993 Ramona Avenue
Grover Beach, CA 93433

Mondays through Fridays
9:30 am – 6 pm
Opens: Tuesday, February 8
Until further notice

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, non-profit 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 and most private, non-profit 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 2.25 percent for homeowners and renters, 3 percent for private, non‑profit organizations and 4 percent for businesses, with terms up to 30 years.  Loan amounts and terms are set by SBA and are based upon each applicant’s financial condition.

Disaster loan information and application forms are also available from SBA’s Customer Service Center by calling SBA toll-free at (800) 659-2955, emailing disastercustomerservice@sba.gov, or visiting SBA’s Web site at http://www.sba.gov/services/disasterassistance.  Hearing impaired individuals may call (800) 877-8339.

Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure Web site at https://disasterloan.sba.gov/ela.

The filing deadline to return applications for property damage is April 4, 2011.  The deadline to return economic injury applications is November 2, 2011.

For more information, visit SBA’s Web site at http://www.sba.gov/services/disasterassistance.

SBA Field Operations Center – West, P.O. Box 419004, Sacramento, CA 95841