SACRAMENTO, Calif. (KTVZ) – Director Tanya Garfield of the U.S. Small Business Administration’s Western Center for Disaster Field Operations reminded businesses and Oregon residents Friday of the December 27 deadline to apply for a federal loan. for SBA property damage disaster caused by the 413,000-acre Pirate Fire in Klamath County that occurred from July 6 to August 15.

According to Garfield, businesses of all sizes, most private nonprofits, homeowners, and renters can apply for federal disaster loans from the SBA to repair or replace disaster-damaged property. The SBA may also lend additional funds to help with the cost of improvements to protect, prevent, or minimize the same type of disaster damage that occurs in the future.

These low-interest federal disaster loans are available in Deschutes, Douglas, Jackson, Klamath, Lake and Lane counties in Oregon and Modoc and Siskiyou counties in California.

Businesses of all sizes and private non-profit organizations can borrow up to $ 2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory, and other business assets.

In addition, the SBA offers economic disaster loans to small businesses, small agricultural cooperatives, small aquaculture businesses, and most private non-profit organizations of any size to help meet the capital needs of work caused by the disaster. Economic damage assistance is available regardless of whether the business suffered any property damage. The deadline to apply for an economic damage disaster loan from the SBA is July 28, 2022.

Homeowners can obtain disaster loans of up to $ 200,000 to repair or replace damaged or destroyed real property. Homeowners and renters are eligible to receive up to $ 40,000 to repair or replace damaged or destroyed personal property.

Interest rates can be as low as 2.88 percent for businesses, 2 percent for private nonprofits, and 1.625 percent for homeowners and renters with terms of up to 30 years. Loan amounts and terms are set by the SBA and are based on the financial situation of each applicant.

Applicants can apply online, receive additional information on disaster assistance, and download applications at https://disasterloanassistance.sba.gov/. Applicants can also call the SBA Customer Service Center at (800) 659-2955 or email [email protected] for more information on SBA disaster assistance. People who are deaf or hard of hearing can call (800) 877-8339. Complete applications should be mailed to the US Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

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About the US Small Business Administration

The US Small Business Administration makes the American dream of owning a business a reality. As the only resource and voice of reference for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared declaration. disaster. It offers services through an extensive network of SBA field offices and partnerships with public and private organizations. For more information visit http://www.sba.gov.