Federal Disaster Loans Available For California Wildfire Victims

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Fire victims in seven northern California counties now have access to low-interest federal loans to help with recovery. The Small Business Administration processes loan applications for fire victims who have lost their home or business in historic fires. comes as President Donald Trump declared a major disaster in the seven counties affected by the lightning fires. The statement covers Lake, Napa, San Mateo, Santa Cruz, Solano, Sonoma and Yolo counties following the wildfires that began on August 14. The loans carry interest rates as low as 1.18% for homeowners and 3% for business owners. Eligible fire victims can use the money to replace real estate, machinery, inventory and personal effects. Tenants are also entitled to assistance in replacing destroyed personal items. Due to the COVID-19 pandemic, the Small Business Administration will not operate walk-in lending centers. All inquiries are handled through their virtual lending centers with online inquiries.

Fire victims in seven northern California counties now have access to low-interest federal loans to help them recover.

The Small Business Administration handles loan applications for fire victims who have lost their home or business in historic fires.

Federal aid comes as President Donald Trump declared a major disaster in the seven counties affected by the lightning fires. The statement covers Lake, Napa, San Mateo, Santa Cruz, Solano, Sonoma and Yolo counties following the wildfires that began on August 14.

The loans carry interest rates as low as 1.18% for homeowners and 3% for business owners.

Eligible fire victims can use the money to replace real estate, machinery, inventory and personal effects. Tenants are also entitled to assistance in replacing destroyed personal items.

Due to the COVID-19 pandemic, the Small Business Administration will not operate walk-in lending centers. All requests are handled through their virtual loan centers with online applications.

To learn more about how to apply and who is eligible, log on to the FEMA website to begin the process.

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