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Washington, D.C. - Congressman Brad Sherman (D-Sherman Oaks) announced that the U.S. Small Business Administration (SBA) has made available low-interest disaster loans for homeowners, property owners, renters, and businesses impacted by the wildfires that ravaged the north San Fernando Valley beginning October 12th. The SBA is making these low-interest loans available to help individuals and families cover the gap between the cost of rebuilding and the amount of insurance settlements.
"Federal assistance is available now to help those directly impacted by the tragic fires in the north San Fernando Valley. With this assistance, Valley residents can rebuild their homes and lives from the ashes of one of the worst fires in our area in recent memory," said Congressman Sherman.
Disaster loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for up to $40,000 to repair or replace damaged or destroyed personal property. Businesses may borrow up to $2 million to repair or replace damaged or destroyed property.
SBA representatives will be on-hand at two locations in the San Fernando Valley to issue loan applications, answer questions about the disaster loan program, and help individuals complete loan applications. The SBA Disaster Loan Outreach Centers will be open at the following locations on the indicated dates and times:
Disaster Loan Outreach Center - Marek Fire
Dexter Park Community Center
11053 N. Trail Road, Kagel Canyon
(at Kagel Canyon Rd & Dexter – follow signs)
Wednesdays, Thursdays & Fridays 9:00 a.m. – 6:00 p.m.
Center closes Thursday, November 13
Disaster Loan Outreach Center - Sesnon Fire
L.A. County Dept. of Public Social Services
21415 Plummer Street, Chatsworth
(Plummer St. & Canoga Ave.)
Mondays & Tuesdays, 8:00 a.m. – 5:00 p.m.
Center closes Monday, November 10
Fire victims can also apply for disaster loans by calling the SBA toll-free at (800) 659-2955 or online at http://disasterloan.sba.gov/. The deadline for filing disaster loan applications is December 29, 2008.
The Federal Emergency Management Agency (FEMA) provides grants, rather than loans, to victims of federally declared national disasters. The San Fernando Valley fires have not been declared by the President to be a national disaster, and accordingly, FEMA programs are not available to San Fernando Valley fire victims. The President cannot declare a national disaster unless requested to do so by the governor of the impacted state. Congressman Sherman wrote to Governor Arnold Schwarzenegger, and subsequently spoke with him during a tour of the fire damaged areas in Chatsworth, urging the state of California to request federal disaster assistance through a Presidential Declaration. The Governor is considering Congressman Sherman's request.
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