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## Small Business Administration Disaster Loan Outreach Centers Closing

The Small Business Administration (SBA) is set to close the two remaining disaster loan outreach centers in San Diego and Spring Valley on Thursday at 6 p.m. This announcement was made on Monday by Francisco Sánchez Jr., associate administrator for the Office of Disaster Recovery and Resilience.

The centers were initially opened to provide personalized assistance to California businesses and residents affected by severe storms and flooding that took place from January 21 to 23. Until the centers shut down, SBA customer service representatives will continue to be available for meetings, answering questions, explaining the disaster loan program, and finalizing approved disaster loans.

Individuals can visit the centers, located at the Mountain View Community Center and Spring Valley Library, without needing an appointment to speak with SBA representatives.

While the deadline to apply for property damage loans has passed, small businesses, agricultural cooperatives, aquaculture businesses, and private nonprofits have until November 19 to apply for economic injury disaster loans. Economic injury assistance is available regardless of property damage.

The statement from the SBA mentions that interest rates for businesses are 4% and 3.25% for private nonprofits, with loan terms of up to 30 years. Interest does not accrue until 12 months after the first loan disbursement.

Applicants can apply online and find more disaster assistance information at SBA.gov/disaster or by contacting the SBA Customer Service Center at 800-659-2955 or emailing [email protected].

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