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SBA Expands its Disaster Loan Center

The U.S. Small Business Administration’s disaster loan outreach center will expand its hours in Laguna Beach to 9 a.m. to 5:30 p.m. Monday through Friday, beginning Feb. 22, until further notice. The center is located at the Laguna Beach Chamber of Commerce, 357 Glenneyre Street. No appointment is necessary.

The SBA opened the disaster loan outreach centers to assist California residents and business owners who were affected by the severe winter storms between Dec. 17 and Jan. 4, according to Adalberto Quijada, district director of the SBA’s Santa Ana office.

Disaster loans of up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate, and 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, non-profit 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.

Interest rates can be as low as 2.25 percent for homeowners and renters, 3 percent for private, non-profit organizations and 4 percent for businesses, with terms up to 30 years. Loan amounts and terms are set by SBA and are based upon each applicant’s financial condition.

Note that the filing deadline to return applications for property damage is April 4, and the deadline to return economic injury applications is Nov. 2.

Disaster loan information and application forms are also available by contacting the SBA customer service center at (800) 659-2955 or [email protected], or visiting http://www.sba.gov/services/disasterassistance.

City-Sponsored Disaster Workshop April 9

Laguna Beach’s City Council will host a community workshop on April 9 in the Council Chambers to seek resident and business input about disaster preparedness.

Facilitated by Jan Perkins, a Laguna Canyon resident and retired city manager, the workshop will be held from 9 a.m. to 3 p.m., with a one-hour break for lunch.

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