Federal disaster loans available to small businesses in Nevada, Placer counties | SierraSun.com

Federal disaster loans available to small businesses in Nevada, Placer counties

TRUCKEE, Calif. – Small nonfarm businesses in 26 California counties and neighboring counties in Nevada are eligible to apply for low interest federal disaster loans from the U.S. Small Business Administration, officials announced on Tuesday. 

These loans offset economic losses because of reduced revenues caused by a freeze in the following primary counties that occurred April 11-12, 2022. 

Primary California counties include: Butte, Glenn, Nevada, Placer, Tehama, Tuolumne, Yolo and Yuba;

Neighboring California counties include: Alpine, Calaveras, Colusa, El Dorado, Lake, Madera, Mariposa, Mendocino, Mono, Napa, Plumas, Sacramento, Shasta, Sierra, Solano, Stanislaus, Sutter and Trinity;

Neighboring Nevada counties include: Douglas, Washoe and Carson City.

“SBA eligibility covers both the economic impacts on businesses dependent on farmers and ranchers that have suffered agricultural production losses caused by the disaster and businesses directly impacted by the disaster,” said Director Tanya Garfield of SBA’s Disaster Field Operations Center-West.

Small nonfarm businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofits of any size 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.

“Eligibility for these loans is based on the financial impact of the disaster only and not on any actual property damage,” Garfield said. “These loans have an interest rate of 2.94% for businesses and 1.875% for private nonprofits, a maximum term of 30 years and are available to small businesses and most private nonprofits without the financial ability to offset the adverse impact without hardship.”

By law, SBA makes Economic Injury Disaster Loans available when the U.S. Secretary of Agriculture designates an agricultural disaster. The Secretary declared this disaster on Nov. 4.

Businesses primarily engaged in farming or ranching are not eligible for SBA disaster assistance. Agricultural enterprises should contact the Farm Services Agency about the U.S. Department of Agriculture assistance made available by the Secretary’s declaration. 

Applicants may apply online, receive additional disaster assistance information and download applications at https://disasterloanassistance.sba.gov/

Applicants may also call SBA’s Customer Service Center at 800-659-2955 or emaildisastercustomerservice@sba.gov for more information on SBA disaster assistance. 

For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services. 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 is July 5, 2023.

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