Washington, D.C. – September 20, 2012 – (RealEstateRama) — Rep. Raúl M. Grijalva today highlighted the recent announcement by the U.S. Small Business Administration (SBA) that it is accepting applications for disaster relief from people and businesses affected by the Brawley earthquakes that hit Southern California earlier this year. Residents and business owners in La Paz and Yuma counties may qualify for low-interest federal disaster loans to repair damage caused by the quakes that began on August 26.
Interest rates will start as low as 1.688 percent for homeowners, 3 percent for private non-profit organizations and 4 percent for businesses. Terms will be offered for up to 30 years.
Disaster loans of up to $200,000 are available for homeowners to repair or replace damaged or destroyed real estate, with an additional $40,000 available to homeowners and renters to repair or replace damaged or destroyed personal property.
Businesses may apply for up to $2 million to repair and replace damaged or destroyed real estate, machinery and equipment, inventory and other business assets. Homeowners and business owners can apply for additional SBA funds to make improvements to prevent or minimize future damage.
Applications can be filed online at . Additional information and applications are also available by calling (800) 659-2955, e-mailing disastercustomerservice (at) sba (dot) gov or visiting http://www.sba.gov/services/disasterassistance.The filing deadline for property damage relief is November 18, 2012. The filing deadline for economic injury applications is June 14, 2013.