SACRAMENTO (CBS13) – The deadline for businesses affected by civil unrest last summer is approaching to apply for a federal disaster loan.
Loans are available for businesses in several local counties including Amador, Contra Costa, El Dorado, Placer, Sacramento, San Joaquin, Solano, Sutter, and Yolo. Small non-farm businesses, small farm cooperatives, small businesses engaged in aquaculture, and most private non-profit organizations of any size are eligible for economic disaster loans up to $ 2 million.
Loans can be used to pay fixed debts, salaries, accounts payable, and other bills that cannot be paid due to the impact of the disaster. The loans will have an interest rate of 3% for businesses and 2.75% for private non-profit organizations, with terms of up to 30 years.
Officials say help is available even though the business has not suffered any property damage.