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Low-interest federal disaster loans are available to California residents and business owners affected by the storms that occurred Mar. 15-27 in Santa Cruz County, the U. S. Small Business Administration (SBA) announced.

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 for personal property losses.

Businesses of any size and private, non-profit organizations may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other business assets.

The SBA opened a temporary local office at Capitola City Hall, 420 Capitola Ave., to help with loan applications and information. It is open Mondays through Fridays from 9 a.m. to 5:30 p.m. through May 12.

No appointment is needed.

 

Thepost.us.com



Kevin Wynne of the SBA encouraged anyone eligible for the loans to apply, noting that a loan can be declined after qualifying.

Interest rates range from 2.563 percent for homeowners and renters, 3 percent for private, non profit organizations and 4 percent for businesses, with terms up to 30 years.

Disaster loan information and application forms are also available by calling SBA toll-free at (800) 659-2955, emailing disastercustomerservice@sba.gov, or visiting http://www.sba.gov/services/disasterassistance. Hearing impaired individuals may call (800) 877-8339.

Applicants may apply online using the electronic loan application with SBA's secure website at https://disasterloan.sba.gov/ela.

The filing deadline to return applications for property damage is June 27, 2011. The deadline to return economic injury applications is Jan. 26, 2012.
Posted by Adam Andrus on May 11th, 2011 8:31 AMPost a Comment (0)

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