Los Angeles County Board of Supervisors Chair Kathryn Barger is urging businesses and nonprofit organizations impacted by the recent Eaton Fire to apply for U.S. Small Business Administration (SBA) Economic Injury Disaster Loans (EIDL) before today’s end of day application deadline.
“Today is the final day to apply for critical federal assistance that can help our local businesses and nonprofits recover from the devastating Eaton Fire,” said Supervisor Kathryn Barger. “These low-interest loans are a vital resource for organizations facing economic hardship due to the disaster. I encourage all eligible entities to submit their applications without delay.”
The SBA’s EIDL program provides financial assistance to businesses, private nonprofits, small agricultural cooperatives, nurseries, and faith-based organizations that have experienced economic losses directly related to the wildfires. These loans are available even if no physical damage occurred.
Eligible organizations may receive up to two million dollars with interest rates as low as 3.625 percent for nonprofits and four percent for businesses, with repayment terms extending up to 30 years. Borrowers are not required to make payments for the first 12 months, and interest does not accrue during this initial period.
Applications can be submitted online through the SBA website, by calling SBA Customer Service at (800) 659-2955, by emailing disastercustomerservice@sba.gov, or in person at the Altadena Community Center, located at 730 East Altadena Drive, Altadena, CA 91001.
“Time is of the essence,” Supervisor Barger emphasized. “If your organization has been affected by the Eaton Fire, do not miss this opportunity to secure the financial support needed for recovery.”