Culver City Observer -

Director Tanya N. Garfield of the U.S. Small Business Administration’s Disaster Field Operations Center-West announced today that SBA will close its Capitola Business Recovery Center at 5 p.m. on Friday, March 17. “SBA opened the center to provide personalized assistance to businesses that were affected by the severe winter storms, flooding, landslides and mudslides that occurred Dec. 27, 2022 - Jan. 31, 2023,” said Garfield.

Until the center closes, SBA customer service representatives will continue to meet with business owners to answer questions about SBA’s disaster loan program, explain the application process, help each individual complete their electronic loan application and close their approved loans. No appointment is necessary.

SANTA CRUZ COUNTY

Business Recovery Center

Capitola City Hall

Community Room (Located on the First Floor)

420 Capitola Ave.

Capitola, CA 95010

*Public parking is located behind City Hall

Mondays – Fridays, 8 a.m. - 5 p.m.

Closes at 5 p.m. Friday, March 17

“SBA representatives will also continue to be available at the following federal-state Disaster Recovery Center to meet with businesses and residents,” Garfield continued. The center is open on the days and times indicated. No appointment is necessary.

SANTA CRUZ COUNTY

Disaster Recovery Center

Santa Cruz County Government Center

Community Room

701 Ocean St.

Santa Cruz, CA 95060

Mondays – Fridays, 9 a.m. - 5 p.m.

Businesses of all sizes and private nonprofit organizations may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other business assets. SBA can also lend additional funds to businesses and homeowners to help with the cost of improvements to protect, prevent or minimize the same type of disaster damage from occurring in the future.

For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size, SBA offers Economic Injury Disaster Loans to help meet working capital needs caused by the disaster. Economic injury assistance is available regardless of whether the business suffered any property damage.

Disaster loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for up to $40,000 to repair or replace damaged or destroyed personal property.

Interest rates can be as low as 3.305 percent for businesses, 2.375 percent for private nonprofit organizations and 2.313 percent for homeowners and renters with terms up to 30 years. Loan amounts and terms are set by SBA and are based on each applicant’s financial condition.

Applicants may apply online, receive additional disaster assistance information and download applications at https://disasterloanassistance.sba.gov/. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services. Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

The deadline to apply for property damage is March 16, 2023. The deadline to apply for economic injury is Oct. 16, 2023.