SBA Offers Disaster Assistance to California Small Businesses Affected by Lake Fire
The US Small Business Administration (SBA) is offering low-interest federal disaster loans to California small businesses that have been economically impacted by the Lake Fire, which occurred from July 5th to August 4th.
The announcement was made following a request from the California Governor’s Office of Emergency Services on behalf of Governor Gavin Newsom. The disaster declaration covers Kern, San Luis Obispo, Santa Barbara, and Ventura counties.
The SBA will provide loans of up to $2 million for businesses to meet the working capital needs caused by a disaster. These loans can be used to cover important expenses such as fixed bills, payments, and accounts payable.
Virtual Business Recovery Center
SBA customer service representatives will be available at the Virtual Business Recovery Center to assist small businesses in understanding the disaster loan application process. No appointment is necessary.
- Monday – Friday
8:00 am – 4:30 pm
Email: FOCWAssistance@sba.gov
The phone: (916) 735-1501
Opens Monday, September 9
Interest rates are set at 4% for small businesses and 3.25% for non-profit organizations, with terms up to 30 years. Interest will not start accruing until 12 months from the first loan payment. Repayment also starts after 12 months.
Small businesses can apply online at SBA.gov/disaster and get more information by contacting the SBA Customer Service Center at (800) 659-2955 or by emailing disastercustomerservice@sba.gov.
The deadline to apply for an economic injury loan is June 6, 2025.
