Economic Injury Disaster Loan Funds Available for Small Businesses
and Non-Profits in Mariposa County Impacted by COVID-19
March 18, 2020 - The SBA is working directly with California Governor Newsom to provide targeted, low-interest loans to small businesses and non-profits that have been severely impacted by the Coronavirus (COVID-19). The SBA’s Economic Injury Disaster Loan (EIDL) program provides small businesses with working capital loans of up to $2 million that can provide vital economic support to small businesses in Mariposa County to help alleviate the temporary loss of income businesses are experiencing. These loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact. Disaster loans can provide vital economic assistance to small businesses. Eligibility for EIDL funds is based on the financial impact of the COVID-19 on small businesses. The interest rate is 3.75 percent for small businesses and 2.75 for private non-profit organizations. These loans offer a long-term repayment option in order to keep payments affordable, for up to a maximum of 30 years and are available to entities without the financial ability to offset the adverse impact without hardship.
Applicants may apply online, receive additional disaster assistance information and download applications at https://disasterloan.sba.gov/ela. 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. Individuals who are deaf or hard of hearing may call (800) 877-8339. Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
Mariposa County is offering assistance with loan applications from Rachelle Araque, loan officer. Rachelle can be reached at (209) 631-8132 or raraque@assuredmortgageco.com. Additionally, local businesses can contact Mother Lode Job Training for assistance with California Employment Development Department programs like unemployment and work share. Contact Stephanie Leasure directly at (209) 742-0871or sleasure@mljt.org.
For more information contact Tara G. Schiff at: tschiff@mariposacounty.org.
Source: Mariposa County