November 21, 2024 The Best Source of News, Culture, Lifestyle for Culver City, Mar Vista, Del Rey, Palms and West Los Angeles

SBA Stands Ready to Assist California Businesses and Residents Affected by Wildfires, Flooding, Mudflows and Debris Flows

Low-interest federal disaster loans are now available to California businesses and residents as a result of President Trump’s major disaster declaration, U.S. Small Business Administration’s Administrator Linda McMahon announced.

The declaration covers Los Angeles, San Diego, Santa Barbara and Ventura counties as a result of the wildfires, flooding, mudflows and debris flows directly related to the wildfires that began Dec. 4, 2017.

“SBA is strongly committed to providing California with the most effective and customer-focused response possible and with access to federal disaster loans to help California businesses and residents affected by this disaster,” said McMahon. “Getting our businesses and communities up and running after a disaster is our highest priority at SBA.”

Businesses of all sizes and private nonprofit 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 businesses and homeowners to help with the cost of improvements to protect, prevent or minimize the same type of disaster damage from occurring in the future.

For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size, SBA offers Economic Injury Disaster Loans to help meet working capital needs caused by the disaster. Economic injury assistance is available to businesses regardless of any property damage.

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.

Interest rates can be as low as 3.385 percent for businesses, 2.5 percent for private nonprofit organizations and 1.75 percent for homeowners and renters with terms up to 30 years. Loan amounts and terms are set by SBA and are based on each applicant’s financial condition.

To be considered for all forms of disaster assistance, survivors must first register with the Federal Emergency Management Agency at www.disasterassistance.gov. As soon as Federal-State Disaster Recovery Centers open throughout the affected area, SBA will provide one-on-one assistance to disaster loan applicants. Additional information and details on the location of disaster recovery centers is available by calling the SBA Customer Service Center at (800) 659-2955.

Related Posts

Breakaway Café Opens New Venice Location with Beachside Grab-and-Go Window

November 20, 2024

November 20, 2024

Bayse Brothers Bring Their Signature Breakfast Dishes and Good Vibes to Venice Breakaway Café, a popular breakfast and lunch eatery...

Last Minute Additions to the Best Thanksgiving 2024 Feasts and Pies To Go

November 20, 2024

November 20, 2024

If Other Faves are Sold Out, Here’s All The Quality Places to Try Now Celebrity chefs Susan Feniger and Mary...

Everytable’s Holiday Meal Collaboration To Support LA’s Unhoused Youth

November 20, 2024

November 20, 2024

Chef Created Thanksgiving Meal Benefits My Friend’s Place. Everytable, the mission-driven company committed to making scratch-cooked, nutritious meals accessible to...

Los Angeles City Council Codifies Sanctuary Protections for Migrants with New Citywide Ordinance

November 19, 2024

November 19, 2024

Mayor Bass Prioritized the Ordinance after Trump’s Mass Deportation Threats The Los Angeles City Council voted unanimously Tuesday to officially...

The Palms Community Council’s Executive Committee Schedules Special Meeting for Nov. 20

November 19, 2024

November 19, 2024

Meeting to Address Open Board Positions and Committee Updates The Executive Committee will hold a special meeting on Wednesday, Nov....

Hammer Museum Presents 10th Edition of MoMA Contenders: Screenings, Conversations with Top Filmmakers

November 19, 2024

November 19, 2024

Lineup Features Films by Steve McQueen, Sean Baker, and Brady Corbett The Hammer Museum will host the 10th edition of...

Film Review: Wicked

November 19, 2024

November 19, 2024

By Dolores Quintana Director John Chu (Crazy Rich Asians, In The Heights) has crafted an effervescent take on the blockbuster...

Randy’s Donuts Arrives in Culver City with Free Donuts and a $250 Gift Card Giveaway

November 19, 2024

November 19, 2024

Grand Opening on November 19 Includes Sweet Giveaways Starting at 6:00 a.m. The time is finally here. Randy’s Donuts is...

Nicole Nagel’s Futuristic Eric Moss Designed Brentwood Home To Hit Auction Block

November 18, 2024

November 18, 2024

The Spaceship-Like Property Heads to Auction With No Reserve in December German actress Nicole Nagel, who was part of the...

LA Controller Kenneth Meija: City Left $513 Million of Homelessness Budget Unspent

November 18, 2024

November 18, 2024

Inefficiencies Blamed for Underspending Despite Record Allocation in FY2024  The City of Los Angeles hasn’t spent over half of its...

West LA College Expands Zero-Cost Textbook Programs with $600K Grant

November 18, 2024

November 18, 2024

College Aims for 50 Zero-Cost Textbook Programs by 2025  West Los Angeles College (West) is expanding its zero-cost textbook program...

(Video) At Vistamar School – Discover the way high school should be

November 18, 2024

November 18, 2024

Students achieve remarkable outcomes with our strong academics, small classes, andpersonalized approach. Our graduates don’t just attend college—they excel. Vistamar’sunique...

(Video) Celebrating 60 Years of Excellence in Education

November 18, 2024

November 18, 2024

Join our international community! Preschool through 12th grade, private school in West Los Angeles and Pacific Palisades, No French knowledge required...

Missing Person Alert: Authorities Seek Help to Find Michelle Lerner, 63, in Culver City

November 18, 2024

November 18, 2024

Woman Was Last Seen Near Prospect Avenue and Venice Boulevard  Authorities are asking for the public’s assistance in locating a...

Lodge Bread To Open New Beverly Hills Location on November 22

November 18, 2024

November 18, 2024

Popular Bakery Will Offer Its Signature Sourdoughs and Pastries  Lodge Bread, a highly regarded West Los Angeles bakery and café,...