News Column

Federal Aid Available For Pfeiffer Fire Victims

January 24, 2014

SALINAS, Calif. - Rep. Sam Farr , D- Carmel , announced that low-interest federal disaster loans are available to California residents and business owners affected by last month's Pfeiffer fire. The loans are available through the U.S. Small Business Administration (SBA) which opened a Disaster Loan Outreach Center today at the Big Sur Lodge . SBA staff will be on hand to help answer questions and provide assistance for individuals applying for loans. The outreach center will remain open until Thursday, January 30th . " Big Sur residents are still dealing with the aftermath of last month's fire," said Rep. Farr. "I am grateful that SBA Acting Administrator Jeanne Hulit recognized the need for aid and set up the outreach center to help affected residents navigate the application process." The Disaster Loan Outreach Center is located at the Big Sur Lodge at 47225 Highway One, Big Sur, Calif. The center is open weekdays from 9 am to 6 pm until January 30th . SBA assistance is available to resident affected by the fire in Monterey County and the neighboring counties of Fresno , Kings , San Benito , San Luis Obispo , and Santa Cruz . Disaster loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for up to $40,000 to repair or replace damaged or destroyed personal property. Businesses of any size 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 homeowners and businesses to help with the cost of making improvements that 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 (EIDLs) to help meet working capital needs caused by the disaster. EIDL assistance is available regardless of whether the business suffered any property damage. Interest rates can be as low as 2.25 percent for homeowners and renters, 2.625 percent for private, nonprofit organizations and 4 percent for businesses, with terms up to 30 years. Loan amounts and terms are set by SBA and are based on each applicant's financial condition. Applicants may apply online using the Electronic Loan Application (ELA) via SBA's secure Web site at . Disaster loan information and application forms are also available from SBA's Customer Service Center by calling (800) 659-2955 or e-mailing . Individuals who are deaf or hard-of-hearing may call (800) 877-8339. For more information about SBA's disaster assistance programs, visit . The filing deadline to return applications for property damage is March 24, 2014 . The deadline to return economic injury applications is October 23, 2014 . Read this original document at:

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Source: Congressional Documents & Publications

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