LOS ANGELES—Residents and business owners affected by the Marek and Sesnon wildfires may now avail of the low-interest disaster loans made possible by the US Small Business Administration (SBA). This was announced by Sandy K. Baruah, acting Administrator of SBA, saying they "look forward to working with California and the people affected by the wildfires and made SBA disaster loans available to homeowners, renters and businesses."
SBA’s assistance was in response to the October 21 request from Henry R. Renteria, Director of California’s office of Emergency Services, on behalf of Governor Arnold Schwarzenegger. It covers the California counties of Kern, Los Angeles, Orange, San Bernardino and Ventura.
Alberto G. Alvarado, SBA’s Los Angeles district director said, "Historically in fire disasters, SBA has found that most property owners have insurance coverage. However, SBA often finds that for many property owners their insurance does not cover the full loss. SBA’s disaster loans are available to cover the gap between the cost of rebuilding and the amount of insurance settlements. It is not necessary to wait for insurance settlements before applying to SBA." He further added that "low-interest federal disaster loans are available to homeowners, renters, businesses of all sizes and private, non-profit organizations whose property was damaged or destroyed by the disaster."
According to the SBA’s press release, homeowners and renters may avail disaster loans up to $200,000 to repair or replace damaged or destroyed real estate and up to $40,000 to repair or replace damaged or destroyed personal property. Businesses of any size 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 for the improvement, protection and prevention to minimize the same type of disaster damage from occurring in the future.
SBA also offers Economic Injury Disaster Loans (EIDLs) for small businesses, private and non-profit organizations to help meet working capital needs caused by the disaster. EIDL is available regardless of whether the business suffered any property damage.
Disaster victims may visit the following SBA’s Disaster Loan Outreach Centers:
• Marek Fire: Dexter Park Community Center / 11053 N Trail Road, Kagel Canyon, CA
• Sesnon Fire: LA County Dept. of Public Social Services (DPSS) / 21415 Plummer St. Chatsworth, CA.
You may also contact SBA’s Customer Service Center by calling toll-free (800) 659-2955 or by emailing SBA at This e-mail address is being protected from spambots. You need JavaScript enabled to view it . Hearing impaired individuals may call toll-free (800) 877-8339 or visit SBA’s website at www.sba.gov/services/disasterassistance.
Disaster victims may go online to file an SBA application for disaster loan assistance. The Electronic Loan Application (ELA) is accessible via SBA’s secure website at https://disasterloan.sba.gov/ela.
Deadline to return applications for property damage is on December 29, 2008 and July 28, 2009 for economic injury applications.
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