As communities continue recovering from the devastating effects of the
wildfires, BOOS & ASSOCIATES has established a team to work with
impacted businesses and individuals to be able to help provide them with
support and make available important resources.
We are here to help – Our staff is prepared to streamline recovery
efforts when businesses and individuals are ready to re-establish
themselves.
One of the ways BOOS &
ASSOCIATES can help individuals and businesses is by assisting them in
acquiring a disaster loan from the U.S. Small Business Administration.
Individuals and businesses may qualify for a loan up to 2 million
dollars! If this interest you, keep reading to find out more.
U.S. SBA – Disaster loans
Overview
Businesses, Private Nonprofits,
Homeowners, and Renters that are located in
the California wildfire disaster area may be eligible for financial
assistance from the U.S. Small Business Administration (SBA). This is
available for California wildfires occurring from:
August
14 through September 26, 2020 - Counties of: Butte, Lake, Lassen,
Mendocino, Monterey, Napa, San Mateo, Santa Clara, Santa Cruz, Solano,
Stanislaus, Sonoma, Trinity, Tulare & Yolo
September
4, 2020 and continuing - Counties of:
Fresno, Los Angeles, Madera, Mendocino, Napa, San Bernardino, San Diego,
Shasta, Siskiyou & Sonoma
Details
What Types of Disaster Loans are Available?
Business Physical Disaster Loans
– Loans to businesses and non-profit organizations to repair or replace
disaster-damaged property, including real estate, inventories, supplies,
machinery, and equipment. The law limits business loans to $2,000,000.
Economic Injury Disaster Loans
(EIDL) – Working capital
loans available. The law limits EIDLs to $2,000,000 for alleviating
economic injury caused by the disaster.
Wildfires
occurring August 14 through September 26, 2020 - Economic injury only
in the contiguous California counties of: Alameda, Calaveras, Colusa,
Contra Costa, Fresno, Glenn, Humboldt, Inyo, Kern, Kings, Marin,
Mariposa, Merced, Modoc, Plumas, Sacramento, San Benito, San
Francisco, San Joaquin, San Luis Obispo, Shasta, Sierra, Siskiyou,
Sutter, Tehama, Tuolumne & Yuba.
Wildfires
occurring September 4, 2020 and November 17, 2020 - Economic injury
only in the contiguous California counties of: Del Norte, Glenn,
Humboldt, Imperial, Inyo, Kern, Kings, Lake, Lassen, Marin, Mariposa,
Merced, Modoc, Mono, Monterey, Orange, Plumas, Riverside, San Benito,
Solano, Tehama, Trinity, Tulare, Tuolumne, Ventura & Yolo.
Home Disaster Loans – Loans to
homeowners or renters to repair or replace disaster-damaged real estate
and personal property, including automobiles. Limits to $200,000 for the
repair or replacement of real estate and $40,000 to repair or replace
personal property.
Additional Assistance:
Additional
funds are available to cover the cost of improvements that will protect
your property against future damage.
Refinancing
prior mortgages available for business and homeowners up to the amount
of the loan for the repair or replacement.
You
may use your SBA disaster loan to relocate. The amount of the relocation
loan depends on whether you relocate voluntarily or involuntarily.
Application Deadline for wildfires occurring:
August
14 through September 26, 2020
Physical
Damage: November 23, 2020
Economic
Injury: May 24, 2021
September 4, 2020 and
continuing
Physical
Damage: December 15, 2020
Economic
Injury: July 16, 2021
Need Help?
If you or your business has been impacted by the wildfires and are
in need of a loan from the U.S.
Small Business Administration, BOOS & ASSOCIATES is here to help! To
inquire more information or if you would like assistance with an
application please email us at askboos@booscpa.com
.
