SACRAMENTO, CA (STL.News) – California Governor Gavin Newsom today announced that the administration has formally requested that the U.S. Small Business Administration (SBA) declare a disaster for the damage caused by a series of large-magnitude earthquakes near Ridgecrest last month.
If approved, the SBA disaster assistance program will make low-interest loans available to eligible residents and businesses in San Bernardino and Kern counties.
“The loss or damage of personal property following a natural disaster can have a significant financial impact on families and businesses,” said Governor Newsom. “The availability of these low-interest loans will provide needed relief to our residents as they continue to recover from the impacts of these earthquakes.”
The administration’s letter to the SBA can be found here.
The SBA disaster assistance program aids homeowners, renters, businesses of all sizes and private nonprofit organizations to repair or replace real estate, personal property, machinery and equipment, inventory and business assets that were damaged or destroyed. The SBA tailors the repayment of each disaster loan to the borrower’s financial capability.
Previously, Governor Newsom secured a Presidential Emergency Declaration for direct federal assistance, declared a state of emergency in Kern and San Bernardinocounties and toured the impacted area to meet with first responders, elected leaders and residents affected by the earthquakes.