SACRAMENTO, Calif. – The U. S. Small Business Administration (SBA) today
reminded small, nonfarm businesses in 35 California counties and neighboring
counties in Arizona and Nevada that they have until September 15, 2014, to apply
for an Economic Injury Disaster Loan (EIDL). These loans are to offset economic
losses because of reduced revenues to farmers and ranchers caused by the drought
that began on January 1, 2014, in the following primary counties, announced
Tanya N. Garfield, Director of SBA’s Disaster Field
Operations Center – West.
Primary California
counties: Alameda, Alpine, Amador, Calaveras, Contra Costa,
El Dorado, Fresno, Inyo, Kern, Kings, Los Angeles, Madera, Mariposa, Merced,
Mono, Monterey, Sacramento, San Benito, San Bernardino, San Joaquin, San Luis
Obispo, Santa Barbara, Santa Clara, Stanislaus, Tulare, Tuolumne and
Ventura;
Neighboring California counties:
Orange, Placer, Riverside, San Mateo, Santa Cruz, Solano, Sutter and
Yolo;
“SBA eligibility covers both the economic impacts on
businesses dependent on farmers and ranchers that have suffered agricultural
production losses caused by the disaster and businesses directly impacted by the
disaster,” Garfield said.
Small, nonfarm businesses, small agricultural
cooperatives, small businesses engaged in aquaculture and most private,
nonprofit organizations of any size may qualify for Economic Injury Disaster
Loans (EIDLs) of up to $2 million to help meet financial obligations and
operating expenses which could have been met had the disaster not
occurred.
“Eligibility for these loans is based on the
financial impact of the disaster only and not on any actual property damage.
These loans have an interest rate of 4% for businesses and 2.625% for private,
nonprofit organizations, a maximum term of 30 years, and are available to small
businesses and most private, nonprofits without the financial ability to offset
the adverse impact without hardship,” Garfield said.
Businesses primarily engaged in farming or ranching
are not eligible for SBA disaster assistance. Agricultural enterprises should
contact the Farm Services Agency (FSA) about the U. S. Department of Agriculture
(USDA) assistance made available by the Secretary’s declaration. However, in
drought disasters nurseries are eligible for SBA disaster assistance.
Applicants may apply online using the Electronic Loan
Application (ELA) via SBA’s secure Web site at https://disasterloan.sba.gov/ela.
For owners of these impacted small businesses,
disaster loan information and application forms are also available from SBA’s
Customer Service Center by calling toll-free at (800) 659-2955 or e-mailing disastercustomerservice@sba.gov.
Individuals who are deaf or hard‑of‑hearing may call (800) 877-8339. For more
information about SBA’s disaster assistance programs, visit http://www.sba.gov/disaster.
The deadline to apply for these loans is September
15, 2014.
