2023 Disaster Loan Assistance Available to Santa Barbara County

As anticipation grows for the approach of Hurricane Hilary toward Santa Barbara County this weekend, the Small Business Administration sent a notice of new low-interest loans made available to individuals and businesses suffering damage from the storms spanning February through July 2023.

The help comes from the Rural Communities Act signed by President Biden in December 2022, and offers assistance to homes, small businesses, private nonprofits, and small agricultural cooperatives with significant, uninsured damages from the past winter’s storms. In the case of Santa Barbara County, the damage has taken the form of lost wages for agricultural workers, crop damage due to flooding or wind, and physical damage to homes and businesses, as well as damaged or destroyed inventory, supplies, machinery, and equipment, said Jackie Ruiz, with the county’s Office of Emergency Management.

For qualifying businesses and private nonprofits, up to $2 million in loans is available, with interest rates as low as 4 percent for businesses and 2.375 percent for nonprofits. Homeowners are eligible for $500,000 to repair or replace damaged or destroyed real estate, and both owners and renters can qualify for $100,000 to repair and replace personal property, including vehicles. Interest rates are as low as 2.375 percent for owners and renters. Interest doesn’t accrue until 12 months from loan disbursement.

The deadline to apply for property damage loans is October 10, 2023; for economic injury, the deadline is May 9, 2024. The span of time for the losses is February 21 through July 10, 2023.

Information on qualifying for the disaster assistance is available by email and telephone: disastercustomerservice@sba.gov or (800) 659-2955. More can be found on SBA’s Disaster Loan Assistance page here, and more resources are at the county’s ReadySBC.org website.

Helpful information from the SBA in English and Spanish follows:

Rural Declaration CA 18051 Announcement

HOW TO APPLY for SBA’s federal low-interest disaster assistance loan:

Online: Apply For A Disaster Loan (sba.gov) [disasterloanassistance.sba.gov]

SBA has established a Virtual Disaster Loan Outreach Center to provide personalized assistance to business owners, homeowners, and renters. SBA Customer Service Representatives will be available to business owners and individuals to answer questions about SBA’s disaster loan program, explain the application process and help each person complete their electronic loan application. Applicants may call or email as indicated below.

Virtual Disaster Loan Outreach Center
Monday–Friday
8 a.m.–4:30 p.m.
FOCWAssistance@sba.gov
(916) 735-1512

SBA offers federal low-interest disaster loans to businesses of all sizes, most private nonprofit organizations, homeowners, and renters.

• Businesses of any size may borrow up to $2 million to repair or replace disaster damaged property.
• Small businesses, small businesses engaged in aquaculture, and most private nonprofit organizations may borrow up to $2 million to help meet working capital needs caused by the disaster.
• Homeowners may borrow up to $500,000 to repair or replace their disaster damaged primary residence.
• Homeowners and renters may borrow up to $100,000 to replace disaster damaged personal property, including vehicles.
• Interest does not begin to accrue until 12 months from the date of the initial disaster loan disbursement. SBA disaster loan repayment begins 12 months from the date of the first disbursement.

A continuación, más información sobre la Declaración Rural CA 18051:

• Recursos para Empresas: 06882000000XzSVAA0 (sba.gov)
• Fechas límite para llenar solicitudes de préstamos para desastres:

Daño físico: 10 de octubre de 2023

Daño económico: 9 de mayo de 2024

Cómo solicitar préstamos de asistencia para desastre a bajo interés de la SBA:

En línea: Préstamos por daños físicos | U.S. Small Business Administration (sba.gov)

La SBA ha creado un Centro Virtual de Promoción y Asistencia para Préstamos para Desastres (VDLOC, por sus siglas en inglés) para ofrecer asistencia personalizada a empresarios, propietarios de viviendas e inquilinos. Los representantes del servicio al cliente de la SBA estarán disponibles para responder sus preguntas sobre el programa de préstamos para desastre de la SBA, explicar el proceso de solicitud y ayudar a cada persona a completar su solicitud electrónica de préstamo. Los solicitantes pueden llamar o enviar un correo electrónico como se indica a continuación.

Centro Virtual de Promoción y Asistencia para Préstamos para Desastres lunes-viernes 8 a.m.–4:30 p.m. FOCWAssistance@sba.gov (916) 735-1512

La SBA ofrece préstamos federales de bajo interés por desastre a negocios de todos los tamaños, la mayoría de las organizaciones privadas sin fines de lucro, propietarios de viviendas e inquilinos.

• Los pequeños negocios de cualquier tamaño pueden pedir prestado hasta $2 millones para reparar o reemplazar propiedades dañadas por el desastre.
• Las pequeños negocios, las pequeñas empresas dedicadas a la acuicultura y la mayoría de las organizaciones privadas sin fines de lucro pueden pedir prestado hasta $2 millones para ayudar a cubrir las necesidades de capital de trabajo causadas por el desastre.
• Los propietarios de viviendas pueden pedir prestado hasta $500,000 para reparar o reemplazar su residencia principal dañada por el desastre.
• Los propietarios de viviendas e inquilinos pueden pedir prestado hasta $100,000 para reemplazar bienes personales dañados por el desastre, incluidos vehículos.
• Los intereses no comienzan a acumularse hasta 12 meses después de la fecha del primer desembolso del préstamo por desastre. El pago del préstamo para desastre de la SBA comienza 12 meses después de la fecha del primer desembolso.