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Jesusita Fire Victims Have July 20 Deadline for U.S. Loan Application

Home and business owners whose properties were damaged or destroyed can seek SBA assistance

Individuals and businesses who suffered property damage in the May Jesusita Fire have until July 20 to apply for an SBA federal disaster loan, Alberto Alvarado, director of the U.S. Small Business Administration’s (SBA) Los Angeles District Office, announced Monday.

“Low-interest federal disaster loans are available to homeowners, renters, businesses of all sizes and private, nonprofit organizations whose property was damaged or destroyed by the disaster,” Alvarado said.  “These loans are available in the SBA disaster declared counties of Kern, San Luis Obispo, Santa Barbara and Ventura,” he added. According to Alvarado, SBA has approved more than $2 million in federal disaster loans for those affected by this disaster.

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 homeowners and businesses to help with the cost of making improvements that protect, prevent or minimize the same type of disaster damage from occurring in the future.

SBA offers Economic Injury Disaster Loans (EIDLs) to help meet small businesses and nonprofits groups recover working capital losses caused by the disaster. EIDL assistance is available regardless of whether the business suffered any property damage. The deadline to return economic injury applications is Feb. 22, 2010.

Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure Web site at https://disasterloan.sba.gov/ela

Disaster loan information and application forms are also available from SBA’s Customer Service Center by calling SBA toll-free at 800.659.2955, emailing [email protected], or visiting SBA’s Web site at www.sba.gov/services/disasterassistance. Hearing impaired individuals may call 800.877.8339.

Noozhawk staff writer Laurie Jervis can be reached at .(JavaScript must be enabled to view this email address).

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