The Small Business Administration (SBA) has announced the availability of low-interest federal disaster loans for businesses, homeowners, renters, and private nonprofit organizations impacted by the recent wildfires and straight-line winds in Southern California. This assistance follows a major disaster declaration by President Biden, covering Los Angeles County and the surrounding counties of Kern, Orange, San Bernardino, and Ventura.

WATCH: Video announcing the SBA Disaster Declaration

Businesses of all sizes and private nonprofits can access loans of up to $2 million to repair or replace damaged real estate, machinery, equipment, inventory, and other assets. Additionally, Economic Injury Disaster Loans (EIDLs) are available to help with working capital needs, such as payroll and fixed debts, for small businesses and nonprofits, even if no physical damage occurred.

Homeowners may qualify for loans of up to $500,000 to repair or replace damaged real estate, while renters and homeowners can apply for up to $100,000 to cover personal property losses, including vehicles. With interest rates as low as 4% for businesses, 3.625% for nonprofits, and 2.563% for individuals, these loans provide critical financial relief for recovery efforts. Repayment terms can extend up to 30 years, with no interest accrual or payments required during the first 12 months.

Applicants are encouraged to apply as soon as possible to ensure timely processing. Disaster loan applications can be submitted online at lending.sba.gov, where additional resources and guidance are also available. The SBA remains committed to supporting recovery efforts and will offer in-person assistance at Disaster Recovery Centers as they open in the affected areas.

For further information, contact the SBA Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov. This funding represents a crucial step in helping Southern California communities recover and rebuild.