The U.S. Small Business Administration (SBA) has amended its disaster declaration for several counties in California, offering expanded assistance to residents and businesses affected by recent disasters. The low-interest federal disaster loans are now available in Contra Costa, Del Norte, Humboldt, Marin, Mendocino, San Francisco, Siskiyou, Sonoma, and Trinity counties.
Businesses and nonprofits can apply for business physical disaster loans of up to $2 million to repair or replace damaged real estate, equipment, inventory, and other assets. Homeowners may borrow up to $500,000 to repair or replace their primary residence and up to $100,000 for personal property such as clothing or vehicles.
Applicants may also qualify for a loan increase of up to 20% of their verified physical damage for mitigation purposes. Eligible improvements include insulating pipes and attics or installing storm windows…