U.S. Small Business Administration Disaster Loans Available for San Bernardino County Residents
Residents may be eligible for grants to help pay for temporary housing and essential home repairs as well as other serious disaster-related needs, such as replacement of damaged personal property and expenses for transportation, childcare, moving and storage. Survivors who are homeowners, renters, businesses, and non-profit organizations including places of worship who had suffered from February 21, 2023, and continuing disaster of severe storms, flooding, straight-line winds, landslides, and mudslides can receive disaster assistance.
SBA continues to offer disaster assistance by way of low-interest Federal loans to those affected by the severe storms, tornadoes and flooding. For Physical Damage Loans, it is June 2, 2023, the deadline. For Economic Injury Disaster Loans, the deadline is January 3, 2024.
We encourage people to complete the SBA application even if they are not sure if they need it yet. If approved the loan becomes an option.
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 for more information on SBA disaster assistance. Individuals who are deaf or hard-of-hearing may call 7-1-1.
Businesses
Property Damage: up to $2,000,000 to repair or replace real estate, machinery and equipment, inventory and other assets that were damaged or destroyed (available to businesses of any size and private, non-profit organizations).
Economic Injury: for businesses and private non-profit organizations suffering adverse financial impacts of the disaster (with or without property loss), up to $2,000,000 for working capital to help pay obligations until normal operations resume. Agricultural cooperatives can receive this loan. It is included in all in the fact sheet.
Individuals and Families
Homeowners: up to $200,000 to repair or replace real estate damage and up to $40,000 to replace personal property.
Renters: up to $40,000 to repair or replace personal property
Interest rates can be as low as 4.00 percent for businesses, 2.375 percent for private nonprofit organizations and 2.375 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.
