Here at BFC, we’re proud ambassadors of the Small Business Administration(SBA) and its efforts to help small business owners and entrepreneurs grow and prosper in today’s economy. We’eve more enthused when we hear the SBA stepping up to help those in need.
On the heels of last year’s devastating Camp Fire (California’s largest wildfire in recorded history) residents and business owners in Butte County have been approved for more than $366 million in low-cost disaster assistance loans from the Small Business Administration.
The Small Business Administration has provided more money in the form of loans than the Federal Emergency Management Agency has in the form of direct assistance. The two agencies work together to provide federal aid to those who register with FEMA after a disaster.
The SBA’s Office of Disaster Assistance offers low-interest disaster loans, which are the primary source of money to pay for repair or replacement costs to return primary residences to as close to pre-disaster recovery condition.
SBA disaster assistance loans are designed to provide recovery capital to businesses of all sizes, most private nonprofit organizations, as well as homeowners and renters, for their losses that are not fully covered by insurance or other compensation.
Way to go, SBA!