SBA TOPS $60 MILLION IN DISASTER ASSISTANCE LOANS FOR WILDFIRES

May 7, 2021 3:25 a.m.

The U.S. Small Business Administration has topped $60 million in disaster assistance loans for businesses and residents affected by Oregon wildfires and straight-line winds that took place last fall.

Director Tanya Garfield said over $5 million has been approved for businesses with nearly $55 million approved to help residents to rebuild and recover from the disaster.

Garfield said although the deadline to apply for property damage loans has expired, small businesses and most private nonprofit organizations of any size can continue to apply for an Economic Injury Disaster Loan of up to $2 million to help meet financial obligations which could have been met had the disaster not occurred. Garfield said 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 are available for those in Douglas and 20 other Oregon counties. The deadline to submit a loan application is June 15th.

Applicants can apply online at: https://disasterloanassistance.sba.gov/ela/s

 

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