This is a reminder that all counties contiguous to Shasta affected by the Carr Fire are eligible for the EIDL program and can apply now at www.SBA.gov/Disasteror at the Business Recovery Center (or Disaster Recovery Center). The contiguous counties to date are Lassen, Modoc, Plumas, Siskiyou, Tehama and Trinity.
The basic details of our program are:
- The SBA helps businesses of all sizes, most private nonprofits, homeowners and renters by providing low-interest direct federal recovery loans for uninsured or under-insured damages.
- Loans for homeowners can be up to $200,000 to repair or replace their primary residence.
- Homeowners and renters can receive up to $40,000 for personal property losses, including disaster damaged vehicles.
- Businesses of all sizes and most private nonprofit organizations can qualify for up to $2,000,000 to repair/replace disaster damaged real estate, inventory, equipment and machinery.
- For small businesses and most private nonprofit organizations, SBA offers Economic Injury Disaster Loans in addition to loans for physical damages. These EIDL’s provide working capital to help businesses through the recovery period. These funds can be used to pay staff salaries, rent, and any ongoing expense through the recovery period. The business/nonprofit DOES NOT need to have suffered physical damage.
- Rates are as low as 1.938 percent for homeowners or renters, 3.61 percent for businesses and 2.5 percent for private nonprofits with terms up to 30 years.
Our Business Recover Center is 8:00am to 5:00pm Monday through Friday to assist any businesses affected by the Carr Fire. It is located in the Superior California Economic Development office, 350 Hartnell Avenue, Suite A, Redding, CA 96002 (all the way in the back of the business park).
Our Disaster Recovery Center, where survivors can speak face to face with both the SBA and FEMA, is open 7 days/week from 9:00am to 7:00pm. It is located at the former Kmart, 2685 Hilltop Dr., Redding, CA 96002.
Anyone impacted by the Carr Fire can always call our Customer Service at (800) 659-2955.
Some other key points:
- There are no costs to apply and no obligation to accept any loan funds.
- Applicants don’t have to know how much they may need when they apply
- Applicants DO NOT have to wait for any insurance claims to fully settle. SBA will work with applicants if they file insurance claims, which can be used to pay down/pay off the loan. We often find we can get funds in the hands of survivors before insurance settlements are finalized, speeding up the recovery and rebuilding process.
Disaster Assistance: U.S. Small Business Administration’s California Resource Partners (pdf)
Disaster Loans: Three-Step-Process (pdf)