News report

SBA provides disaster relief loans to local residents and businesses affected by winter weather and flooding

Grays Harbor and Pacific County have access to low-interest federal disaster loans available for local businesses and residents affected by winter weather and flooding.

The United States Small Business Administration (SBA) has announced the availability of loans for Grays Harbor, Pacific, Cowlitz, Lewis, Pierce, Skamania, Thurston, Wahkiakum and Yakima counties.

The SBA declared a disaster in response to a request the SBA received from Governor Jay Inslee on February 14, 2022. The statement makes available the help of the SBA.

“SBA’s mission-focused team is ready to help small businesses and Washington residents impacted by winter weather and flooding,” SBA said. Administrator Isabella Casillas Guzman. “We are committed to providing federal disaster loans quickly and efficiently, with a client-centric approach to help businesses and communities recover and rebuild.”

Disaster loans of up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Landlords and tenants can receive up to $40,000 to repair or replace damaged or destroyed personal property.

Businesses of all sizes and private non-profit organizations can borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other assets. The SBA can also lend additional funds to businesses and homeowners to help cover the cost of improvements to protect, prevent, or minimize the same type of disaster damage 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 disaster loans to help meet the capital needs of turnover caused by the disaster. Economic loss assistance is available whether or not the business has suffered property damage.

Interest rates can be as low as 2.83% for businesses, 1.875% for private nonprofits, and 1.438% for homeowners and tenants with terms up to 30 years. Loan amounts and terms are set by the SBA and are based on each applicant’s financial situation.

The SBA opened a Disaster Lending Awareness Center in Lewis County Courthouse to answer questions and assist with the application process.

The center will be open on the days and times indicated below. No appointment is necessary.

LEWIS COUNTY
Disaster Loan Awareness Center
Lewis County Courthouse
351 North Street Northwest, Room 121
Chehalis, WA 98532
Opens at 8 a.m. on Thursday, February 17
Monday to Friday, 8 a.m. to 5 p.m.
Closing at 5 p.m. on Thursday March 3
Center closed for President’s Day, Monday, February 21

Applicants can apply online, receive additional information about disaster assistance, and upload applications at https://disasterloanassistance.sba.gov/.

Candidates can also call SBA Customer Service Center at (800) 659-2955 or email [email protected] for more information on SBA disaster assistance. For people who are deaf, hard of hearing or have a speech impediment, please dial 7-1-1 to access telecommunications relay services. Completed applications should be mailed to US Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

The deadline to file a property damage claim is April 18, 2022. The deadline to file an economic loss claim is November 15, 2022.