The U.S. Small Business Administration announced Wednesday it is accepting applications for low-interest loans from non-farm companies that suffered losses due to rain, wind and cold between March and May of last year.
Los Angeles is one of 29 California counties deemed eligible for the loans, which are available to cover costs from damage that occurred between March 1, 2016, and May 7, 2016.
Loans of up to $2 million are available for small nonfarm businesses, small agricultural cooperatives, small businesses and engaged in “aquaculture” and most private nonprofit organizations, according to the SBA. The loans have interest rates of 4 percent for businesses and 2.6 percent for private nonprofits.
Applications are available at https://disasterloan.sba.gov/ela.