PALMDALE – The U.S. Small Business Administration will open a disaster loan outreach center in Palmdale on Wednesday, Nov. 18, for Antelope Valley residents and business owners impacted by flash floods, mudslides and debris flows in October’s record-breaking rainstorm.
“On behalf of our Antelope Valley residents who sustained significant damage to their homes and businesses, the county looks forward to the opening of the Disaster Loan Outreach Center where they can secure financial assistance from the SBA to repair or replace damaged property,” said Los Angeles County Supervisor Michael Antonovich.
Location and hours of operation
The Los Angeles County SBA Disaster Loan Outreach Center is located at 827 E. Avenue Q9 (formerly the Public Safety Department) in Palmdale.
It will be open weekdays from 9 a.m. to 6 p.m. It will close at noon on the day before Thanksgiving, reopening at 1 p.m. on Monday, Nov. 30.
The center will close permanently at 6 p.m. on Dec. 3.
A county official said having an office in Palmdale would help ensure that more residents get help.
“We want to make sure that we reach out to as many people as possible,” said Ken Kondo of the Office of Emergency Management.
Disaster loans for homeowners, renters and businesses
Disaster loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for up to $40,000 to repair or replace damaged or destroyed personal property.
Businesses of all sizes and private nonprofit organizations 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 businesses and homeowners to help with the cost of improvements to protect, prevent or minimize the same type of disaster damage from occurring in the future.
For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private nonprofit organizations of any size, SBA offers Economic Injury Disaster Loans (EIDLs) to help meet working capital needs caused by the disaster. EIDL assistance is available regardless of whether the business suffered any property damage.
Interest rates can be as low as 4 percent for businesses, 2.625 percent for private nonprofit organizations and 1.875 percent for homeowners and renters with terms up to 30 years. Loan amounts and terms are set by SBA and are based on each applicant’s financial condition. Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at https://disasterloan.sba.gov/ela.
Disaster loan information and application forms are also available from SBA’s Customer Service Center by calling 800-659-2955 or emailing email@example.com. Individuals who are deaf or hard of hearing may call 800-877-8339. For more disaster assistance information, or to download applications, visit http://www.sba.gov/disaster. The filing deadline to return applications for property damage is Jan. 17, 2016. The deadline to return economic injury applications is Aug.17, 2016.
Los Angeles County residents, renters and business owners are still encouraged to report their storm-related damages to 211 LA County by dialing 2-1-1 or by going to the website at https://www.211la.org.