Application Filing Deadlines:

Physical Damage “Grace Period” Deadline Extension: March 31, 2023

Economic Injury: October 16, 2023

The Small Business Association has announced a Grace Period until March 31, 2023, to apply for SBA loans for any Physical Damage to your home or property.

The Grace Period announcement can be found here. The disaster loan application filing deadline date for this disaster was Mar 16, 2023. However, we recognize that it may be very difficult for you to complete the application and return it to SBA by that deadline date. Therefore, SBA will accept your application through Mar 31, 2023.

IN SPANISH:

La Administración Federal de Pequeños Negocios (SBA por sus siglas en inglés) ha anunciado un período de gracia hasta el 31 de marzo de 2023 para solicitar préstamos de la SBA por cualquier daño físico a su hogar o propiedad.

La fecha límite para presentar la solicitud de préstamo por desastre para este desastre fue el pasado 16 de marzo de 2023.  Sin embargo, reconocemos que puede ser muy difícil para los sobrevivientes de las pasadas tormentas el completar la solicitud y devolverla a la SBA antes de esa fecha límite. Por lo tanto, la SBA aceptará su solicitud hasta el 31 de marzo de 2023.

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Nearby Center Update as of March 21, 2023:

SAN LUIS OBISPO COUNTY

San Luis Obispo Library Disaster Loan Outreach Center (DLOC)

995 Palm Street, San Luis Obispo, CA  93401

Tuesdays – Wednesdays: 10 am – 6 pm

Thursdays – Fridays: 10 am – 5 pm

Saturdays: 9 am – 2 pm

Closed Sundays and Mondays

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Guidance for the Presidential Declaration:

 U.S. Small Business Administration Office of Disaster Recovery and Resilience offers assistance for businesses, homeowners, and renters affected by the Severe Winter Storms, Flooding, Landslides, and Mudslides that occurred on Dec. 27, 2022, through January 31, 2023.

GETTING DISASTER HELP FROM SBA:

INITIAL STEPS: Register with FEMA, Apply with SBA, and Visit a Disaster Recovery Center

♦ Step 1: Register with FEMA at www.disasterassistance.gov  -or-  www.disasterassistance.gov/es (Spanish)

♦ Step 2: Apply For A Disaster Loan (sba.gov) [disasterloanassistance.sba.gov]

♦ Note: Homeowners and renters referred to SBA by FEMA should submit their SBA disaster loan application, even if they are not sure if they will need or want a loan. If SBA cannot approve your application, in most cases we refer the applicant to FEMA’s Other Needs Assistance (ONA) program for possible additional assistance.

 WHAT YOU NEED TO KNOW

♦ SBA offers federal low-interest disaster loans to businesses of all sizes, most private nonprofit organizations, homeowners, and renters.

♦ Businesses of any size may borrow up to $2 million to repair or replace disaster damaged property.

♦ Small businesses, small businesses engaged in aquaculture, and most private nonprofit organizations may borrow up to $2 million to help meet working capital needs caused by the disaster.

♦ Homeowners may borrow up to $200,000 to repair or replace their disaster damaged primary residence.

♦ Homeowners and renters may borrow up to $40,000 to replace disaster damaged personal property, including vehicles.

♦SBA Customer Service #: 1.800.659.2955

♦FEMA Customer Service # 1.800.621.3362

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Up to One Year from the Note Date to Begin Making Loan Payments:

SBA disaster loan borrowers have up to one year from the date of the note to begin making payments. In addition, interest does not begin to accrue until 12 months from the date of the initial loan disbursement and accrues only on the amount disbursed.

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Application Denial Letter Guidance:

 The denial letters will provide a reason—it may be a general reason, but the guidance to appeal the decline decision is in the applicant’s decline decision letter.

The applicant should provide a narrative and additional documentation to support the appeal, and send to the email address provided in the decline decision letter.

In addition, the applicant may call the phone number that is provided in the decline decision letter.

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Information on How Disaster Declaration is Declared:

 The U.S. Small Business Administration (SBA) has no authority to declare a disaster declaration without a governor’s request.

• SBA disaster assistance must be requested by the Governor and is based on property damage or small businesses economic injury, which is lost revenue caused by the event.
• County emergency management officials are the source for the status of safety and disaster assistance information in their county.

Generally, the process begins with local emergency management officials’ assessment of damage.

• Accordingly, disaster impacted residents, businesses and nonprofit organizations should report their business, home or personal property disaster damage to their county emergency management officials.
• In addition to physical damage, small businesses and private nonprofit organizations should report to county emergency management officials’ economic injury, which is lost revenue caused by the event.
• The county emergency management officials forward the information on property damage and economic injury to the state emergency management officials.
• The state emergency management officials coordinate any disaster declaration requests with the governor’s office, SBA and other federal agencies.