SBA Disaster Loan Assistance
Updated: Jan 4, 2024
If your business is located at Los Angeles, San Diego and Orange County*, you might want to look into the SBA Disaster Loan Assistance:
Economic Injury Disaster Loans (EIDLs), it provided working capital loans to help small businesses** like us to meet their ordinary and necessary financial obligations that cannot be met as a direct result of the disaster. These loans are intended to assist through the disaster recovery period.
Requirements:
• Credit History
• Repayment
• Collateral
Interest Rates:
The maximum interest rate for this program is 4 percent.
Loan Term:
The law authorizes loan terms up to a maximum of 30 years.
Loan Amount Limit:
The law limits EIDLs to $2,000,000 for alleviating economic injury caused by the disaster.
If a business is a major source of employment, SBA has the authority to waive the $2,000,000 statutory limit.
Contact Irvine Bookkeeping today if you have any questions regarding any accounting issues or services. Feel free to call us at 949-545-9980 or visit us at www.irvinebookkeeping.com
*Area in the California counties of: Alameda, Calaveras, Contra Costa, Los Angeles, Sacramento, San Diego, San Francisco, San Mateo, Sonoma & Tuolumne; and the contiguous California counties of: Alpine, Amador, El Dorado, Imperial, Kern, Lake, Madera, Marin, Mariposa, Mendocino, Merced, Mono, Napa, Orange, Placer, Riverside, San Bernardino, San Joaquin, Santa Clara, Santa Cruz, Solano, Stanislaus, Sutter, Ventura & Yolo
**Small business - small agricultural cooperatives, small businesses engaged in aquaculture, and most private, non-profit organizations of all sizes.
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Call Irvine Bookkeeping today if you have any questions
You reach us at 949-545-9980 or visit us at www.irvinebookkeeping.com
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