Allie WilliamsChannel 2 News
Starting Thursday, there will be new federal disaster loans for homeowners and businesses affected by the Caughlin Fire.
The U.S. Small Business Administration is making loans available for Washoe County along with 12 other counties in Nevada, California and Oregon.
You can apply at the Washoe County Disaster Loan Outreach Center at 450 Sinclair Street. They're located on the third floor.
They'll be open from 8am to 5pm Monday through Friday until Friday, December 23rd at 1 pm.
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.
Businesses of any size 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 homeowners and businesses to help with the cost of making improvements that 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 (EIDLs) to help meet working capital needs caused by the disaster. EIDL assistance is available regardless of whether the business suffered any property damage.
Interest rates can be as low as 2.063 percent for homeowners and renters, 3 percent for private, nonprofit organizations and 4 percent for businesses, with terms up to 30 years. Loan amounts and terms are set by SBA and are based on each applicant's financial condition.
Applicants may apply online using SBA's secure Web site at https://disasterloan.sba.gov/ela.
Disaster loan information and application forms are also available from SBA's Customer Service Center by calling (800) 659-2955, emailing disastercustomerservice@sba.gov or visiting SBA's Web site at www.sba.gov/services/disasterassistance. Individuals who are deaf or hard-of-hearing may call (800) 877-8339.
The filing deadline to return applications for property damage is February 6, 2012. The deadline to return economic injury applications is September 7th.
For more information, visit SBA's Web site at www.sba.gov.
