SBA Loans Available for Pass Area Businesses for Drought Losses: UPDATED

CORRECTION FROM THE COUNTY OF RIVERSIDE EMERGENCY MANAGEMENT DEPARTMENT: Small Business Administration loans available to businesses for drought losses

RIVERSIDE COUNTY, CA – Small, non-farm businesses in Riverside County that encountered economic losses as a result of California’s drought, are eligible to apply for low-interest loans from the Small Business Administration (SBA). These loans are intended to augment reduced business revenue caused by the drought.

A news release issued March 3 incorrectly stated that the SBA loans were for homeowners and businesses with damage that resulted from storms that hit Jan. 19-22. Owners of property damaged as a result of the January storms are NOT eligible for individual assistance.

Small, non-farm businesses with drought-related losses may apply online at https://disasterloan.sba.gov/ela. The deadline for businesses to apply for the SBA loans is Oct. 23.

ORIGINAL POST AS FOLLOWS:

RIVERSIDE COUNTY, CA - Riverside County residents whose homes were severely impacted by storms that pounded the region for more than three days in January are eligible to apply for relief loans from the U.S. Small Business Administration to pay for repairs.

The SBA is offering insured and under-insured residents and business owners the opportunity to apply for low-interest loan assistance until Oct. 23. Anyone who lives within in Riverside County -- city areas or unincorporated regions -- is eligible.

Examples of impacts that may qualify under federal criteria include damage that makes a structure uninhabitable, six inches to two feet of water in a structure, or less than two inches but still enough water to soak a first- floor carpet, according to the U.S. Federal Emergency Management Agency.

Officials tell Patch that the loans are specifically for those whose homes were destroyed or had major damage, as follows:

• Destroyed: The structure is a total loss and is not economically feasible to rebuild. Example: More than four feet of water in the first floor or more than two feet in a mobile home.
• Major: The structure is currently uninhabitable. Extensive repairs are necessary to make the structure habitable and it will take more than 30 days to repair. Example: two to four feet of water in the first floor. Six inches to two feet of water in a mobile home with plywood floors. One inch of water in a mobile home with particle-board floors.
• Minor: The structure is damaged and uninhabitable. Minor repairs are necessary to make habitable and it will take less than 30 days to repair. Examples: tree(s) fell on structure. Two inches to two feet of water in the first floor.
• Affected/habitable: The structure has minimal damage and habitable without repairs. Example: the carpet on the first floor is soaked. Less than two inches of water in the first floor.

In some cases, loans may also be used to replace contents lost or ruined due to the storms.

Applications can be completed online at https://disasterloan.sba.gov/ela, or downloaded from https://www.sba.gov/disaster. Applicants may also request forms via email at disastercustomerservice@sba.gov, or contact the SBA via phone at (800) 659- 2955.

The Jan. 19-22 storm series triggered 50 flood assist calls, 15 water rescue calls, 15 downed power line reports and at least 71 traffic collisions countywide, according to the county Emergency Management Department.

At one point, more than 40 roads countywide were shut down due to debris and mud flows, as well as flooding. Schools were also closed for one to two days in the Hemet and San Jacinto valleys because of damaged or obstructed travel corridors.

– City News Service contributed to this report / Image via Shutterstock