Federal Disaster Loans Available For San Mateo County Storm Losses
San Mateo County homeowners, renters and business owners who experienced significant storm-related property losses between Feb. 1 and Feb. 25, 2017, may be eligible for low-interest federal disaster loans through the U.S. Small Business Administration (SBA).
The SBA declared a disaster in response to a response from Gov. Jerry Brown and is distinct from the governor’s earlier declaration of a state of emergency.
Homeowners are eligible for disaster loans up to $200,000 to repair or replace damaged or destroyed real estate. Homeowners and renters are also eligible for up to $40,000 to repair or replace damaged or destroyed personal property. The deadline to apply is May 19, 2017.
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 businesses and homeowners to help with the cost of improvements to protect, prevent or minimize similar disaster damage in the future.
For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofits of any size, SBA offers Economic Injury Disaster Loans to help meet working capital needs caused by the disaster. This assistance is available regardless of whether the business suffered any property damage
The deadline to apply for these economic injury loans is Dec. 20, 2017.
Apply in one of the following ways:
· Online using SBA’s secure website at https://disasterloans.sba.gov/ela.
· From SBA’s Customer Service Center at (800) 659-2955 or via email at email@example.com. Individuals who are deaf or hard of hearing may call (800) 977-8339.
· Download an application form at https://www.sba.gov/disaster and mail the competed document to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
· In person at the Disaster Loan Outreach Center, City Hall, 12th Floor — Room 1231, 200 E. Santa Clara St., San Jose, CA 95113. The center is open 10 a.m. to 7 p.m. Monday to Friday, but closed Friday, March 31 for Cesar Chavez Day.