Low-interest federal disaster loans are now available to businesses and residents in some 209 counties affected by the civil unrest that began May 26.

“Low-interest federal disaster loans are available to businesses of all sizes, most private nonprofit organizations, homeowners and renters whose property was damaged or destroyed by this disaster,” said Tanya N. Garfield of the U.S. Small Business Administration’s Disaster Field Operations Center-West.

Businesses of all sizes and private nonprofit organizations can borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other business assets. The Small Business Administration, which is administering the loans, can also lend additional funds to businesses and homeowners to help with the cost improvements to protect, prevent or minimize the same type of disaster damage from occurring 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 Injury Disaster Loans to help meet working capital needs caused by the disaster. Economic injury assistance is available regardless of whether the business suffered any property damage.

Disaster loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for up to $40,000 to repair or replace damaged or destroyed personal property.

Interest rates can be as low as 3 percent for businesses, 2.75 percent for private nonprofit organizations and 1.25 percent for homeowners and renters with terms up to 30 years. Loan amounts and terms are set by SBA and are based on each applicant’s financial condition.

The disaster loans cover businesses and residents who incurred damage as a result of the civil unrest in Alameda, Contra Costa, Kern, Los Angeles, Orange, San Bernardino, San Francisco, San Joaquin, San Mateo, Santa Clara, Stanislaus and Ventura counties in California.

“SBA is strongly committed to providing California with the most effective and customer-focused response possible, and we will be there to provide access to federal disaster loans to help finance recovery for businesses and residents affected by the disaster,” said Garfield. “Getting our businesses and communities up and running after a disaster is our highest priority at SBA.”

In response to the Coronavirus pandemic, for this disaster SBA will establish a virtual Disaster Loan Outreach Center to answer questions about SBA’s disaster loan program, explain the application process and help each individual complete their electronic loan application.

The Virtual Disaster Loan Outreach Center is available from 8 a.m. to 4:30 p.m. Monday through Friday by email at FOCWAssistance@sba.gov or phone at (916) 735-1500. These services are only available for the California disaster declaration as a result of the civil unrest that began May 26, 2020, and not for COVID-19 related assistance.

Applicants can apply online, receive additional disaster assistance information and download applications at https://disasterloanassistance.sba.gov/. Applicants can also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance.