Loans

SBA opens loans for businesses impacted by wildfires

SBA opens loans for businesses impacted by wildfires
Written by Publishing Team

Monuments and trees in Sequoia National Park have been wrapped in foil, as is the park’s entrance in Ash Mountain near Three Rivers. Image via Wikimedia user 25or6to4

Posted on December 27, 2021 – 1:48 PM
Written by the business magazine staff

The Small Business Administration made loans to businesses affected by wildfires in 2021.

The US Small Business Agency has announced that small business owners can now apply for federal disaster loans if their business is financially affected by the fire shutdown. Loans can be used to pay off debts, payroll and other bills and eligibility is based on financial impact. The loan term can be up to 30 years at an interest rate of 2.855% for small businesses and 2% for nonprofits, according to a press release. The application deadline is September 21, 2022.

The Windy Fire started on September 9, and was caught by lightning on the Toli River Indian Reservation. It grew to 97,528 acres and was completely contained on November 15. In response to the Windy fire, officials closed several popular tourist attractions including the Trail of 100 Giants and a number of roads. The track is expected to remain closed until spring, according to the USDA accident site.

The storm itself set fire to the KNP complex. Full containment was not announced until December 16, after rain closed it this month. The KNP complex closed off much of Sequoia and Kings Canyon National Parks, including the famous Giant Forest, where General Sherman Tree stands. The KNP complex burned 88,307 acres.

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