July 31, 2023

U.S. Small Business Administration Extends Deadline for Federal Disaster Loan

The deadline to apply for disaster assistance for physical damage under Disaster Declaration CA 17842 has been extended to Sept. 1, 2023.

Disaster Declaration CA 17842 is characterized as damaged caused by severe winter storms, straight-line winds, flooding, landslides and mudslides occurring from Feb. 21, 2023 and continuing in the California counties of Kern, Madera, Mariposa, Mendocino, Mono, Monterey, San Benito, San Bernardino, Santa Cruz, Tulare and Tuolumne. According to the SBA, “Business and non-profit organizations can apply for assistance to repair or replace disaster-damaged property owned by the business, including real estate, inventories, supplies, machinery, and equipment and or working capital loans for up to $2,000,000. SBA offers Economic Injury Disaster Loans (EIDL) to small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size to help meet working capital needs caused by the disaster.”

Read more about this disaster declaration load and its rates here (published May 5, 2023).

A recent policy change grants the loan for 12 months of no payments and 0 percent interest. This pertains to all disaster loans approved in response to disasters declared on or after Sept. 21, 2022, through Sept. 30, 2023.

Those who experienced effects of these disasters can apply through https://disasterloanassistance.sba.gov/ela/s/ or call the U.S. Small Business Administration customer service center at 1-800-659-2955.