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Disaster Loan Assistance for Fire Victims

Carlsbad CA– The Carlsbad City Library Learning Center is one of two Disaster Loan Outreach Center locations being set up next week to offer residents and business owners affected by the San Diego County wildfires low-interest federal disaster loans.

The Disaster Loan Outreach Centers will be open from 9:30 a.m. to 5:00 p.m. beginning Tuesday, June 10 through Thursday, June 19. The locations are: the Carlsbad City Library Learning Center, 3368 Eureka Place, Room 14, across from Holiday Park; and the San Diego County Library San Marcos Branch, 2 Civic Center Drive.

Disaster loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters may also be eligible for up to $40,000 to repair or replace damaged or destroyed personal property. Businesses of any size and private or non-profit organizations may be eligible to borrow up to $2 million to repair or replace damaged or destroyed buildings, machinery and equipment, inventory, and other business assets.

Additional loans from the Small Business Administration may be available to help with the cost of making improvements that protect, prevent or minimize the same type of disaster damage from occurring in the future.

Small businesses, small agricultural cooperatives, small aquaculture businesses, and private, non-profit organizations can request an Economic Injury Disaster Loan to help meet working capital needs caused by the disaster—regardless of whether the business sustained any property damage.

Loan amounts and terms are set by the Small Business Administration and are based on the applicant’s financial condition. Interest rates can be as low as 2.188 percent for homeowners and renters, 2.625 percent for private, nonprofit organizations and 4 percent for businesses.

Online applications are available on the SBA Disaster Loan website [Link]

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