Spring 2023 flooding file photo

The Small Business Administration is getting word out about disaster aid recently made available for businesses and property owners in Kings and Fresno counties.

Businesses and homeowners with damages related to the severe winter storms, straight‑line winds, flooding, landslides and mudslides that occurred Feb. 21 – July 10 could be eligible for SBA disaster loans. Rates are as low as 2.3% for homeowners, renters and nonprofits and 4% for businesses.

The SBA will also be on the ground in Corcoran, an area that saw some of the worst of the flooding and where about 90,000 acres of farmland remains submerged under Tulare Lake.

A disaster loan outreach center is coming to Corcoran City Hall, 832 Whitley Ave., beginning Monday. It will be open Monday through Friday from 8 a.m. to 5 p.m. to answer questions about the disaster loan program.

The SBA also set up a virtual disaster loan outreach center with customer service reps to answer questions from 8 a.m. to 4:30 p.m. Monday through Friday. Applicants can call 916-735-1512 or email the SBA.

Businesses of all sizes and private nonprofits 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.

SBA disaster loans up to $500,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for up to $100,000 to repair or replace damaged or destroyed personal property, including personal vehicles.

SBA can also lend additional funds to businesses and homeowners to help with the cost of improvements to protect, prevent or minimize future disaster damage.

The deadline to apply for property damage is Oct. 10, 2023. The deadline to apply for economic injury through the Economic Injury Disaster Loan program is May 9, 2024. Economic injury loans help meet working capital needs caused by the disaster and is available regardless of whether the business suffered property damage.

Applicants may apply online, receive additional disaster assistance information and download applications at disasterloanassistance.sba.gov.