SBA TOPS $20 MILLION IN DISASTER ASSISTANCE LOANS

October 22, 2020 10:45 a.m.

The Small Business Administration has announced that the agency has approved more than $20 million in federal disaster loans for Oregon businesses and residents impacted by the wildfires and straight-line winds that began on September 7th.

Director Tanya Garfield of the SBA’s Disaster Field Operations Center-West, said over $516,000 has been approved for businesses, while over $20 million has been granted to help residents recover and rebuild from the recent disaster.

Garfield said they are committed to helping businesses and residents in Douglas and several other countries to rebuild as quickly as possible. Those who sustained damage are encouraged to register prior to November 16th by going to www.disasterassistance.gov.

A release said the SBA continues to provide one-on-one assistance to disaster loan applications between 5:00 a.m. and 5:00 p.m. seven days a week. Email: FOCWAssistance@sba.gov or call 800-2955.

Businesses of all sizes and private nonprofit organizations can borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other business assets. The SBA can also lend additional funds to help businesses and residents with the cost of making improvements that protect, prevent, or minimize the same type of disaster damage from occurring in the future.

The release said for small businesses and most private nonprofit organizations of all sizes, SBA offers Economic Injury Disaster Loans to help meet working capital needs caused by the disaster.

Disaster loans up to $200,000 are available to homeowners to repair or replace their damaged or destroyed primary residence. Homeowners and renters are eligible for up to $40,000 to repair or replace damaged or destroyed personal property.

To apply or get more information, go to: https://disasterloanassistance.sba.gov/s/

 

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