HomeMy WebLinkAboutTropical Storm Hilary Small Business Association Loans1 | P a g e
NEWS RELEASE
Disaster Field Operations Center West
Release Date: Sept. 25, 2023 Media Contact: Mark W. Randle,
(916) 735-1500, Mark.Randle@sba.gov
Release Number: CA 18191-02 Follow us on Twitter/X, Facebook, Blogs & Instagram
SBA to Open Disaster Loan Outreach Center in Cathedral City
SACRAMENTO, Calif. – Director Jeffrey Lusk of the U.S. Small Business Administration’s Disaster Field
Operations Center-West today announced the opening of its Disaster Loan Outreach Center to
meet the needs of businesses and individuals who were affected by Tropical Storm Hilary that
occurred Aug. 19 - 21. The center will be located at the Cathedral City Branch Library beginning
Tuesday, Sept. 26 in Cathedral City.
“SBA customer service representatives will be on hand at the following center to answer questions
about SBA’s disaster loan program, explain the application process and help each individual complete
their electronic loan application,” Lusk continued. The center will be open on the days and times
indicated. No appointment is necessary.
RIVERSIDE COUNTY
Disaster Loan Outreach Center
Cathedral City Library, Study Room
33520 Date Palm Dr.
Cathedral City, CA 92234
Opens 1 p.m. Tuesday, Sept. 26
Mondays & Tuesdays, 10 a.m. – 6 p.m.
Wednesdays, 12 p.m. – 8 p.m.
Thursdays & Fridays, 10 a.m. – 6 p.m.
Closed Monday, Oct. 9 in Observance of Columbus Day
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 the same type of disaster damage from occurring in the
future.
For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and
most private nonprofit organizations of any size, SBA offers Economic Injury Disaster Loans to help
meet working capital needs caused by the disaster. Economic injury assistance is available regardless
of whether the business suffered any property damage.
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Disaster loans up to $500,000 are available to homeowners to repair or replace damaged or destroyed
real estate. Homeowners and renters are eligible for up to $100,000 to repair or replace damaged or
destroyed personal property, including personal vehicles.
Interest rates can be as low as 4 percent for businesses, 2.375 percent for private nonprofit
organizations and 2.5 percent for homeowners and renters with terms up to 30 years. Loan amounts
and terms are set by SBA and are based on each applicant’s financial condition.
Interest does not begin to accrue until 12 months from the date of the first disaster loan
disbursement. SBA disaster loan repayment begins 12 months from the date of the first disbursement.
Applicants may apply online, receive additional disaster assistance information and download
applications at https://disasterloanassistance.sba.gov/. Applicants may also call SBA’s Customer
Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on
SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please
dial 7-1-1 to access telecommunications relay services. Completed applications should be mailed to
U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road,
Fort Worth, TX 76155.
The deadline to apply for property damage is Nov. 21, 2023. The deadline to apply for economic injury
is June 24, 2024.
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About the U.S. Small Business Administration
The U.S. Small Business Administration helps power the American dream of business ownership. As
the only go-to resource and voice for small businesses backed by the strength of the federal
government, the SBA empowers entrepreneurs and small business owners with the resources and
support they need to start, grow, expand their businesses, or recover from a declared disaster. It
delivers services through an extensive network of SBA field offices and partnerships with public and
private organizations. To learn more, visit www.sba.gov.