San Diego County residents, nonprofits and businesses affected by Tropical Storm Hilary can now apply for federal disaster loans.
The U.S. Small Business Administration will have two loan officers on- site at the San Diego County Library’s Bonita-Sunnyside Branch at 4375 Bonita Road beginning Monday to answer questions and help people complete applications, according to county officials.
“SBA’s team stands ready to help California’s small businesses and residents impacted by tropical storm Hilary,” SBA Administrator Isabella Casillas Guzman said. “We’re committed to providing federal disaster loans swiftly and efficiently, with a customer-centric approach to help businesses and communities recover and rebuild.”
Potential loans up to $2 million could be used by businesses to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other business assets, county officials said.
In addition, loans up to $500,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters may be eligible up to $100,000 to repair or replace damaged or destroyed personal property, including personal vehicles.
Economic injury disaster loans are also available for small businesses, small agricultural cooperatives and small businesses engaged in aquaculture. Economic injury assistance is available regardless of whether the business suffered any property damage, according to San Diego County.
Funds may also be available 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.
Applications can be downloaded disasterloanassistance.sba.gov/.
Applicants may also call the SBA’s Customer Service Center at 800-659-2955 or email firstname.lastname@example.org for more information.
The deadline to apply for physical damage loans is Nov. 21. The deadline to apply for economic injury loans is June 24, 2024.