Closure of San Diego and Spring Valley Disaster Loan Outreach Centers

The Small Business Administration (SBA) is set to close the last two disaster loan outreach centers in San Diego and Spring Valley this Thursday. These centers were opened to provide assistance to businesses and residents affected by severe storms and flooding in January.

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

Interest rates for these loans are 4% for businesses and 3.25% for nonprofits, with terms up to 30 years. The San Diego Housing Commission has also announced a Flood Recovery Program for displaced residents, aiming to help families affected by the floods transition into stable housing.

Although the disaster loan centers are closing, applicants can still apply online or contact the SBA Customer Service Center for more information. This news comes as a relief to those still struggling to recover from the January storms and floods in the area.