Administrator Karen G. Mills said the SBA acted under its own authority to declare a disaster in response to a Dec. 1 request from Gov. Brian Sandoval.
The disaster declaration makes SBA assistance available in Washoe County and the neighboring Nevada counties of Churchill, Humboldt, Lyon, Pershing, Storey and Carson City, the California counties of Lassen, Modoc, Nevada, Placer and Sierra and the Oregon counties of Harney and Lake.
“The U. S. Small Business Administration is strongly committed to providing Nevadans with the most effective and customer-focused response possible, and we will be there to provide access to federal disaster loans to help finance recovery for residents and businesses affected by the disaster,” Mills said. “Getting our businesses and communities up and running after a disaster is our highest priority at SBA.”
“Low-interest federal disaster loans are available to homeowners, renters, businesses of all sizes and private, nonprofit organizations whose property was damaged or destroyed by this disaster,” SBA Nevada District Director Edward Cadena said in a press release.
Beginning today, SBA representatives will be on hand at the Disaster Loan Outreach Center in the Reno Community Development Department to issue loan applications, answer questions about SBA’s disaster loan program, explain the application process and help each individual complete their application. No appointment is necessary.
The Washoe County Disaster Loan Outreach Center is at 450 Sinclair St. (corner of Sinclair and Stewart streets), third floor. Open 8 a.m. to 5 p.m. Monday through Friday; closes Dec. 23 at 1 pm
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.
Businesses of any size and private, nonprofit organizations can borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other business assets. SBA also can 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.
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 (EIDLs) to help meet working capital needs caused by the disaster. EIDL assistance is available regardless of whether the business suffered any property damage.
Interest rates can be as low as 2.063 percent for homeowners and renters, 3 percent for private, nonprofit organizations and 4 percent for businesses, with terms up to 30 years. Loan amounts and terms are set by SBA and are based on each applicant’s financial condition.
Apply online using SBA’s secure Web site at https://disasterloan.sba.gov/ela.
Disaster loan information and application forms are also available from SBA’s Customer Service Center by calling 800-659-2955, emailing firstname.lastname@example.org or visiting SBA’s Web site at www.sba.gov/services/disasterassistance. Individuals who are deaf or hard of hearing can call 800-877‑8339.
The filing deadline to return applications for property damage is Feb. 6, 2012. The deadline to return economic injury applications is Sept. 7, 2012.