Disaster Recovery Center Closing On Friday

Even though the disaster relief center in the old K-Mart building is closing, the Small Business Administration will still be available locally to help fire survivors. The DRC on Hilltop Drive will close at 6PM Friday. Tuesday morning, the SBA will reopen in the lower conference room of the First Christian Church at 3590 Placer Street. Businesses may borrow up to $2 Million. SBA can also lend additional funds to businesses and homeowners to help with the cost of improvements to protect from damage from occurring in the future. For businesses, SBA offers economic injury disaster loans to help meet working capital needs caused by the disaster. In addition, 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 are as low as 1.938 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.

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