WASHINGTON - The U.S. Small Business Administration is reminding small businesses and private nonprofit organizations in California of the Nov. 10 deadline to apply for low-interest federal disaster loans to offset physical damage caused by the Bug and Hawk Fires occurring Aug. 8 - Sept. 9.

The disaster declaration covers the Nevada counties of Carson City, Churchill, Humboldt, Lyon, Pershing, Storey, and Washoe, and the California counties of Lassen, Modoc, Nevada, Placer, and Sierra, as well as the Oregon counties of Harney and Lake.

Businesses and nonprofits are eligible to apply for physical disaster loans and may borrow up to $2 million to repair or replace disaster-damaged or destroyed real estate, machinery, and equipment, inventory, and other business assets.

Homeowners and renters are eligible to apply for home and personal property loans and may borrow up to $100,000 to replace or repair personal property, such as clothing, furniture, cars, and appliances. Homeowners may apply for up to $500,000 to replace or repair their primary residence.

Applicants may also be eligible for a loan increase of up to 20% of their physical damage, as verified by SBA, for mitigation purposes. Eligible mitigation improvements include strengthening structures to protect against high wind damage, upgrading to wind rated garage doors, and installing a safe room or storm shelter to help protect property and occupants from future damage.

"One distinct advantage of SBA's disaster loan program is the opportunity to fund upgrades reducing the risk of future damage," said Chris Stallings, Associate Administrator of the Office of Disaster Recovery at SBA. "I encourage businesses and homeowners to work with contractors and mitigation professionals to improve their storm readiness while taking advantage of SBA's mitigation loans."

The SBA's Economic Injury Disaster Loan program is available to eligible small businesses, small agricultural cooperatives, and private nonprofit organizations - including faith-based organizations - impacted by financial losses directly related to this disaster. The SBA is unable to provide disaster loans to agricultural producers, farmers, or ranchers, except for aquaculture enterprises.

The loan amount can be up to $2 million with interest rates as low as 4% for businesses, 3.625% for private nonprofits, and 3.00% for homeowners and renters, with terms of up to 30 years. Interest does not begin to accrue, and monthly payments are not due until 12 months from the date of the first loan disbursement. The SBA determines eligibility and sets loan amounts and terms based on each applicant's financial condition.

To apply online, visit sba.gov/disaster. Applicants may also call the SBA's National Support Network Center at (866) SBA-HELP or email [email protected] for more information about 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.

The filing deadline to return physical damage applications is Nov. 10. However, after the deadline has passed, there is a 60-day grace period in which SBA will accept applications. The deadline to return economic injury applications is June 11, 2027.

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About the U.S. Small Business Administration

The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow, expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.

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