When a severe wind storm struck Los Angeles County from November 30 through December 4, many homes and businesses were destroyed or damaged.
The U.S. Small Business Administration has now declared a disaster for Los Angeles County.
The declaration, issued by the SBA Administrator Karen G. Mills, helps not only business owners, but also private nonprofit organizations, homeowners, and renters. THise people in Los Angeles County and the neighboring counties of Kern, Orange, San Bernardino and Ventura are eligible to apply for low-interest disaster loans to help cover losses they sustained in the disaster.
The request for assistance made to the SBA was based on a preliminary damage assessment on December 12 and 13. Recovery experts from Cal EMA and the SBA worked with the Los Angeles County Office of Emergency Management and several other affected cities.
“We recognize that disasters like the wind storm leave an indelible mark on people’s lives. We’re hopeful the low-interest disaster loans now available through the SBA will help put many homeowners, renters and business owners who suffered losses due to the wind storm on the road to a quick and full recovery.”
- Mike Dayton, CAL EMA Acting Secretary
California Emergency Management Agency (Cal EMA) says the SBA loans can be up to $200,000, and are available to help qualified homeowners repair or replace damaged or destroyed real estate. Personal property can also be covered, up to $40,000, for people who qualify.
Businesses and private nonprofits can apply for loans of up to $2 million to help cover the costs of repairing or replacing damaged or destroyed real estate, machinery and equipment, inventories or other business assets. Small businesses, most private nonprofit organizations and agriculture-related businesses are also eligible to apply for Economic Injury Disaster Loans to help meet their needs for disaster-related working capital.
The application deadline for loans to help cover property damage is February 17, 2012; the deadline for EIDL applications is September 19, 2012.
The SBA has customer service representatives at a Disaster Loan Outreach Center at the Pasadena Fire Department’s Headquarters, 199 S. Los Robles Avenue, Suite 550. These reps can assist applicants with loan applications, and explain the SBA loan application process. They are available 9 a.m. to 5:30 p.m. through Friday, December 23, and resume operations on Monday, January 9.
Applications can also be found on the secure SBA Web site, https://disasterloan.sba.gov/ela, by phone at (800) 659-2955, email at email@example.com or the SBA Web site at www.sba.gov/services/disasterassistance. Assistance for people who are deaf or hard of hearing is available at (800) 877-8339.