Low-interest federal disaster loans are available to Oklahoma businesses and residents affected by the wildfires that occurred March 31 – April 10, 2023, announced Administrator Isabella Casillas Guzman of the U.S. Small Business Administration. SBA acted under its own authority to declare a disaster in response to a request SBA received from Gov. Kevin Stitt on April 12, 2013.
The disaster declaration makes SBA assistance available in Canadian, Garfield, Kingfisher, Lincoln, Logan, Noble, Oklahoma, and Payne counties.
“It’s for businesses, homeowners, and renters,” Logan County Emergency Manager Steven Haga said. “Even if people have insurance and made claims already, they can still apply.”
The Disaster Loan Outreach Center will be set up next at the County Six-Story Lower Level Office located at 312 E. Harrison (across the street from the Logan County Courthouse) on Monday, April 17, and Thursday, May 14 from 1 – 4 p.m.
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, including personal vehicles.
Interest rates can be as low as 4 percent for businesses, 2.375 percent for private nonprofit organizations, and 2.375 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.
Applicants may apply online, receive additional disaster assistance information, and download applications at https://disasterloanassistance.sba.gov/. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services. Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
The deadline to apply for property damage is June 13, 2023. The deadline to apply for economic injury is Jan. 16, 2024.
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