Published 2/16/2022, Wednesday, 1615 hours PT
WASHINGTON – Nine counties in this State are now eligible for low-interest federal disaster loans to be granted to those businesses and residents who were affected by the winter weather and flooding that occurred from January 5-16, 2022.
The WA Flood disaster declaration makes the SBA assistance available to those in Cowlitz, Grays Harbor, Lewis, Pacific, Pierce, Skamania, Thruston, Wahkiakum, and Yakima Counties.
The Disaster Press release can be found here: https://www.sba.gov/article/2022/feb/16/sba-offers-disaster-assistance-washington-businesses-residents-affected-winter-weather-flooding
“SBA’s mission-driven team stands ready to help Washington’s small businesses and residents impacted by the winter weather and flooding,” said Isabella Casillas Administrator Guzman. “We’re committed to providing federal disaster loans swiftly and efficiently, with a customer-centric approach to help businesses and communities recover and rebuild.” – SBA
Disaster Loan Outreach Center
Lewis County Courthouse
351 NW North St., Room 121
Chehalis, WA 98532
It Opens 8 a.m. Thursday, Feb. 17
Mondays – Fridays, 8 a.m. – 5 p.m.
Closes 5 p.m. Thursday, March 3
Center closed for President’s Day, Monday, Feb. 21
Businesses of all sizes 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 businesses and homeowners to help with the cost of improvements to 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 to help meet working capital needs to be caused by the disaster. Economic injury assistance is available regardless of whether the business suffered any property damage.
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.
Interest rates can be as low as 2.83 percent for businesses, 1.875 percent for private nonprofit organizations, and 1.438 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.
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 firstname.lastname@example.org for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services. Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
The deadline to apply for property damage is April 18, 2022. The deadline to apply for economic injury is Nov. 15, 2022.
A Disaster Loan Outreach Center is opening in Chehalis starting Thursday.
(Sources: WA Emergency Management, SBA)
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