SBA offers storm damage assistance
The Small Business Administration opened a Santa Cruz County office to offer financial aid to those affected by the February Storms.
Starting Wednesday the SBA is making low interest federal disaster loans available to businesses and homeowners in Santa Cruz County.
This is for those who were hit by severe storms and flooding from February 1st to the 25th.
A county supervisor and Santa Cruz resident say the help couldn’t come soon enough.
“I had a shed that exploded from one of the trees that came down.”
That’s only some of the damage that Santa Cruz resident Joyce says she and her family have endured.
That’s why the county worked to get federal funding from the Small Business Administration.
Nearly a month ago, residents were asked to participate in a survey to show the SBA the need for funding.
The SBA has since responded. Starting Wednesday, low interest loans will be available not just to businesses but homeowners like Joyce along with private non-profits and renters.
“For homeowners [and renters] the interest rate is as low as 1.875%” said Garth MacDonald a Public Information Officer with the SBA. “For businesses, as low as 3.15% and for private non-profits, 2.5%.”
Supervisor Bruce McPherson says this funding is helpful to Santa Cruz County businesses and residents after the severe damage the storms caused.
“We’re over 100 million dollars now in our road system alone. So it’s nothing like we’ve seen for our infrastructure this is the worst storm we’ve ever experienced.”
Though Joyce has yet to sign on the dotted line to get an SBA loan, she says the center gives something that she and her family didn’t have.
“There’s an option” Joyce says “You have somewhere to go to get an option.”
Monterey and San Benito counties are also getting help from the SBA.
The location in Santa Cruz County will be open for the next few weeks and will close as the number of applicants die down.
They say potential applicants can also apply online. You can do so by clicking here or calling 800-659-2955.
