How to resolve AdBlock issue? LAKE COUNTY, Calif. — The U.S. Small Business Administration, or SBA, is reminding small businesses and private nonprofit organizations in California of the July 7 deadline to apply for low interest federal disaster loans to offset economic losses caused by the Boyles Fire.
The fire took place Sept. 8 to 11, 2024.
The disaster declaration covers the California counties of Colusa, Glenn, Lake, Mendocino, Napa, Sonoma and Yolo.
Under this declaration, SBA’s Economic Injury Disaster Loan, or EIDL, program is available to small businesses, small agricultural cooperatives, nurseries, and PNPs impacted by financial losses directly related to the disaster.
The SBA is unable to provide disaster loans to agricultural producers, farmers or ranchers, except for small aquaculture enterprises.
EIDLs are available for working capital needs caused by the disaster and are available even if the small business did not suffer any physical damage.
The loans may be used to pay fixed debts, payroll, accounts payable, and other bills not paid due to the disaster.
“SBA loans help eligible small businesses and private nonprofits cover operating expenses after a disaster, which is crucial for their recovery,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “These loans not only help business owners get back on their feet but also play a key role in sustaining local economies in the aftermath of a disaster.”
The loan amount can be up to $2 million with interest rates as low as 4% for small businesses and 3.25% for PNPs with terms up to 30 years. Interest does not accrue, and payments are not due until 12 months from the date of the first loan disbursement. The SBA sets loan amounts and terms based on each applicant’s financial condition.
To apply online, visit sba.gov/disaster. Applicants may also call SBA’s Customer Service Center at 800-659-2955 or email
Submit completed loan applications to the SBA no later than July 7.
