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SBA Disaster Loan

Posted by BOOSCPA Strategic Tax Services Group Posted on Nov 30 2020
How To Qualify For SBA Loans In A Strong Economy

Philanthropy Delaware - SBA Economic Injury Disaster Loan

As communities continue recovering from the devastating effects of the wildfires, BOOS & ASSOCIATES has established a team to work with impacted businesses and individuals to be able to help provide them with support and make available important resources.

We are here to help – Our staff is prepared to streamline recovery efforts when businesses and individuals are ready to re-establish themselves.

One of the ways BOOS & ASSOCIATES can help individuals and businesses is by assisting them in acquiring a disaster loan from the U.S. Small Business Administration. Individuals and businesses may qualify for a loan up to 2 million dollars! If this interest you, keep reading to find out more.

U.S. SBA – Disaster loans Overview

Businesses, Private Nonprofits, Homeowners, and Renters that are located in the California wildfire disaster area may be eligible for financial assistance from the U.S. Small Business Administration (SBA). This is available for California wildfires occurring from:

August 14 through September 26, 2020 - Counties of: Butte, Lake, Lassen, Mendocino, Monterey, Napa, San Mateo, Santa Clara, Santa Cruz, Solano, Stanislaus, Sonoma, Trinity, Tulare & Yolo

September 4, 2020 and continuing - Counties of: Fresno, Los Angeles, Madera, Mendocino, Napa, San Bernardino, San Diego, Shasta, Siskiyou & Sonoma


What Types of Disaster Loans are Available?

Business Physical Disaster Loans – Loans to businesses and non-profit organizations to repair or replace disaster-damaged property, including real estate, inventories, supplies, machinery, and equipment. The law limits business loans to $2,000,000.

Economic Injury Disaster Loans (EIDL) – Working capital loans available. The law limits EIDLs to $2,000,000 for alleviating economic injury caused by the disaster.

Wildfires occurring August 14 through September 26, 2020 - Economic injury only in the contiguous California counties of: Alameda, Calaveras, Colusa, Contra Costa, Fresno, Glenn, Humboldt, Inyo, Kern, Kings, Marin, Mariposa, Merced, Modoc, Plumas, Sacramento, San Benito, San Francisco, San Joaquin, San Luis Obispo, Shasta, Sierra, Siskiyou, Sutter, Tehama, Tuolumne & Yuba.

Wildfires occurring September 4, 2020 and November 17, 2020 - Economic injury only in the contiguous California counties of: Del Norte, Glenn, Humboldt, Imperial, Inyo, Kern, Kings, Lake, Lassen, Marin, Mariposa, Merced, Modoc, Mono, Monterey, Orange, Plumas, Riverside, San Benito, Solano, Tehama, Trinity, Tulare, Tuolumne, Ventura & Yolo.

Home Disaster Loans – Loans to homeowners or renters to repair or replace disaster-damaged real estate and personal property, including automobiles. Limits to $200,000 for the repair or replacement of real estate and $40,000 to repair or replace personal property.

Additional Assistance:

Additional funds are available to cover the cost of improvements that will protect your property against future damage.

Refinancing prior mortgages available for business and homeowners up to the amount of the loan for the repair or replacement.

You may use your SBA disaster loan to relocate. The amount of the relocation loan depends on whether you relocate voluntarily or involuntarily.

Application Deadline for wildfires occurring:

August 14 through September 26, 2020

Physical Damage: November 23, 2020

Economic Injury: May 24, 2021

September 4, 2020 and continuing

Physical Damage: December 15, 2020
Economic Injury: July 16, 2021

Need Help?

If you or your business has been impacted by the wildfires and are in need of a loan from the U.S. Small Business Administration, BOOS & ASSOCIATES is here to help! To inquire more information or if you would like assistance with an application please email us at .