Disaster Recovery Centers to become SBA Loan Centers on Monday
SAN DIEGO (FOX 5/KUSI) — The state/federal disaster recovery centers in Mountain View and Spring Valley closed on Friday.
However, businesses and private nonprofits impacted by the January floods will still have a place to go for help. The recovery centers will be converted to Small Business Administration Disaster Loan Outreach Centers on Monday.
Africa Rosas, spokesperson with SBA, says small businesses, private nonprofits as well as homeowners and renters are eligible for these loans.
“We have two types of loans that they can qualify for, the first one is for damages to a business or a home because of the flooding and the other type of loan is for economic injury, which would be for small business owners and private nonprofit organizations that had losses because of the flooding,” Rosas said.
Rosas says although the deadline to apply for a loan for property damage has passed, small businesses and most private nonprofit organizations still have until Nov. 19 to apply for an economic injury disaster loan.
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Interest rates 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.
“We are committed to the long-term recovery of the residents of San Diego,” Rosas said.
Appointments are not necessary. Applicants may apply online and receive additional disaster assistance information at SBA.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance.
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