The U.S. Small Business Administration (SBA) is reminding small businesses and private nonprofit organizations in California of the approaching deadline to apply for federal disaster loans related to the Bridge Fire. These low-interest loans are available until July 23, 2025, to help offset economic losses from the fire that began on September 8, 2024.
The disaster declaration includes Kern, Los Angeles, Orange, San Bernardino, and Ventura counties. The SBA's Economic Injury Disaster Loan (EIDL) program offers financial assistance to small businesses, agricultural cooperatives, nurseries, and private nonprofits affected by the disaster. However, agricultural producers such as farmers and ranchers are not eligible unless they operate small aquaculture enterprises.
These EIDLs can be used for working capital needs caused by the disaster even if no physical damage occurred. They cover expenses like fixed debts, payroll, accounts payable, and other bills unpaid due to the event.
"SBA loans help eligible small businesses and private nonprofits cover operating expenses after a disaster, which is crucial for their recovery," stated Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. "These loans not only help business owners get back on their feet but also play a key role in sustaining local economies in the aftermath of a disaster."
Loan amounts can reach up to $2 million with interest rates as low as 4% for small businesses and 3.25% for private nonprofits. The terms can extend up to 30 years with no interest accruing or payments required until one year after the first loan disbursement. The SBA determines loan amounts and terms based on each applicant’s financial situation.
Applications can be submitted online at sba.gov/disaster or by contacting SBA’s Customer Service Center at (800) 659-2955 or via email at disastercustomerservice@sba.gov. For telecommunications relay services access, individuals who are deaf or hard of hearing should dial 7-1-1.
Completed applications must be submitted by July 23.