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SBA Amends Disaster Declaration: Disaster Assistance Now Available to all California Small Businesses

Summary

An SBA news release from the Disaster Field Operations Center West, Release Number CA 16332-02, dated March 19, 2020, announcing that SBA Administrator Jovita Carranza amended the disaster declaration so that low-interest Economic Injury Disaster Loans are available to small businesses in all counties of California and neighboring counties in Arizona, Nevada and Oregon. Small businesses, private non-profit organizations, small agricultural cooperatives and small aquaculture enterprises affected by the Coronavirus (COVID-19) since Jan. 31, 2020 may qualify for loans of up to $2 million for fixed debts, payroll, accounts payable and other bills. The interest rate is 3.75 percent for small businesses and 2.75 percent for private non-profit organizations, with terms of up to 30 years and an application deadline of Dec. 16, 2020.

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                                                   NEWS RELEASE
Disaster Field Operations Center West
 Release Date: March 19, 2020                Contact: Richard A. Jenkins, (916) 735-1500,
                                                      Richard.Jenkins@sba.gov
 Release Number: CA 16332-02                 Follow us on Twitter, Facebook, Blogs & Instagram

                           SBA Amends Disaster Declaration
      Disaster Assistance Now Available to all California Small Businesses
            Economically Impacted by the Coronavirus (COVID-19)

SACRAMENTO, Calif. – The U.S. Small Business Administration is offering low-interest federal disaster
loans for working capital to all California small businesses suffering substantial economic injury as a
result of the Coronavirus (COVID-19), SBA Administrator Jovita Carranza announced today.

SBA disaster assistance is now available to all counties within the state of California and the
neighboring counties below.

Neighboring Arizona counties: La Paz, Mohave and Yuma;
Neighboring Nevada counties: Clark, Douglas, Esmeralda, Lyon, Mineral, Nye and Washoe;
Neighboring Oregon counties: Curry, Jackson, Josephine, Klamath and Lake

“SBA is strongly committed to providing the most effective and customer-focused response possible
to assist California small businesses with federal disaster loans. We will be swift in our efforts to help
these small businesses recover from the financial impacts of the Coronavirus (COVID-19),” said
Administrator Carranza.

SBA Customer Service Representatives will be available to answer questions about SBA’s Economic
Injury Disaster Loan program and explain the application process.

“Small businesses, private non-profit organizations of any size, small agricultural cooperatives and
small aquaculture enterprises that have been financially impacted as a direct result of the Coronavirus
(COVID-19) since Jan. 31, 2020, may qualify for Economic Injury Disaster Loans of up to $2 million to
help meet financial obligations and operating expenses which could have been met had the disaster
not occurred,” said Carranza.

“These loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be
paid because of the disaster’s impact. Disaster loans can provide vital economic assistance to small
businesses to help overcome the temporary loss of revenue they are experiencing,” Carranza added.

Eligibility for Economic Injury Disaster Loans is based on the financial impact of the Coronavirus
(COVID-19). The interest rate is 3.75 percent for small businesses. The interest rate for private non-
profit organizations is 2.75 percent. SBA offers loans with long-term repayments in order to keep
payments affordable, up to a maximum of 30 years and are available to entities without the financial
ability to offset the adverse impact without hardship.

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Applicants may apply online, receive additional disaster assistance information and download
applications at https://disasterloan.sba.gov/ela. Applicants may also call SBA’s Customer
Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more
information on SBA disaster assistance. Individuals who are deaf or hard-of-hearing may call
(800) 877-8339. Completed applications should be mailed to U.S. Small Business Administration,
Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

The deadline to apply for an Economic Injury Disaster Loan is Dec. 16, 2020.

For more information about Coronavirus, please visit: Coronavirus.gov.

For more information about available SBA resources and services, please visit: SBA.gov/coronavirus.


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About the U.S. Small Business Administration
The U.S. Small Business Administration makes the American dream of business ownership a reality. As
the only go-to resource and voice 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 disaster. It
delivers services through an extensive network of SBA field offices and partnerships with public and
private organizations. To learn more, visit www.sba.gov.




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