Small Business Administration offers 2.8% interest loans to help Tulare County businesses adversely affected by the KNP Complex, Windy fires
VISALIA – The U.S. Small Business Administration has announced it is now offering low-interest federal disaster loans to small businesses in Tulare County that were economically impacted by the Windy and KNP Complex Fires.
“We are pleased to see this resource made available to Tulare County business owners who have been hit hard by this year’s wildfires,” Tulare County Office of Emergency manager Andrew Lockman stated. “The County is, and continues to be, committed to working with all partners to ensure that those affected by the wildfires have a voice and can recover.”
These SBA loans may be used to overcome the temporary loss of revenue due to the fires that raged from early December throughout October, and are available to small non-farm businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size.
The SBA loans may be used to pay fixed debts, payroll, accounts payable and other bills. Eligibility is based on the financial impact of the disaster only—not on any property damage. Loans have an interest rate of 2.855% for small businesses and 2% for private non-profit organizations. The terms are for up to 30 years and are restricted to small businesses without the financial ability to offset the adverse impact without hardship.
The deadline to apply for economic injury is Sept. 21, 2022.
Applicants may apply online, receive additional disaster assistance information, and download applications at disasterloanassistance.sba.gov. Applicants may also call SBA’s Customer Service Center at 800-659-2955 or email [email protected] for more information on SBA disaster assistance. Individuals who are deaf or hard of hearing may call 800-877-8339.
Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.