The U.S. Small Business Administration opened a Disaster Loan Outreach Center on Tuesday at the Alpine Library, located at 1752 Alpine Blvd., for those affected by the West Fire. The Disaster Loan Outreach Center will be open Monday through Thursday from 9 a.m. to 6 p.m. and Friday from 9 a.m. to 4:30 p.m.until Thursday, Aug. 23. Low-interest federal disaster loans are available for businesses, homeowners, renters and most private nonprofit organizations that experienced property damage or destruction during the West Fire.
Disaster loans that are available include business physical disaster loans, economic injury disaster loans and home disaster loans. Business physical disaster loans are loans to replace damaged property including real estate, inventories, supplies, machinery and equipment, according to the SBA disaster fact sheet. Economic injury disaster loans are “working capital loans” to assist small businesses through the recovery period, and home disaster loans are loans to homeowners or renters to repair or replace property, including cars.
Applicants must have a credit history and be able show their ability to repay loans. Interest rates vary, depending on the type of loan. There are restrictions and limitations for loans, which can be found on the SBA disaster fact sheet. According to an SBA press release, “SBA acted under its own authority to declare a disaster in response to a request SBA received from Gov. Edmund G. Brown Jr.’s designated representative, Mark S. Ghilarducci, director of the Governor’s Office of Emergency Services, on Aug. 8, 2018.” SBA public information officer Corey D. Williams encourages anyone affected by the West Fire to go to the Disaster Loan Center and speak face to face with customer service representatives to get help with the application process.
