Small Business Association low-interest federal disaster loans are now available to Oregon businesses and residents affected by the Severe Storms, Flooding, Landslides and Mudslides

NEWS RELEASE

Disaster Field Operations Center West
Release Date: April 4, 2020 Contact: Richard A. Jenkins, (916) 735-1500,
Richard.Jenkins@sba.gov

Release Number: OR 16412-01 Follow us on Twitter, Facebook, Blogs & Instagram
SBA Stands Ready to Assist Oregon Businesses and Residents
Affected by the Severe Storms, Flooding, Landslides and Mudslides

SACRAMENTO, Calif. – Low-interest federal disaster loans are now available to Oregon businesses
and residents as a result of President Trump’s major disaster declaration, U.S. Small Business
Administration’s Administrator Jovita Carranza announced.
The declaration covers Umatilla county and the Confederated Tribes of the Umatilla Indian Reservation
as a result of the severe storms, flooding, landslides and mudslides that occurred Feb. 59, 2020.
“SBA is strongly committed to providing Oregon with the most effective and customer-focused
response possible and with access to federal disaster loans to help businesses and residents affected
by this disaster,” said Carranza. “Getting our businesses and communities up and running after a
disaster is our highest priority at SBA.”
Businesses of all sizes and private nonprofit organizations may borrow up to $2 million to repair or
replace damaged or destroyed real estate, machinery and equipment, inventory and other business
assets. SBA can also lend additional funds to businesses and homeowners to help with the cost of
improvements to protect, prevent or minimize the same type of disaster damage from occurring in the
future.
For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and
most private nonprofit organizations of any size, SBA offers Economic Injury Disaster Loans to help
meet working capital needs caused by the disaster. Economic injury assistance is available to
businesses regardless of any property damage.
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.
Interest rates can be as low as 3.75 percent for businesses, 2.75 percent for private nonprofit
organizations and 1.563 percent for homeowners and renters with terms up to 30 years. Loan
amounts and terms are set by SBA and are based on each applicant’s financial condition.
To be considered for all forms of disaster assistance, survivors must first contact the Federal
Emergency Management Agency at www.disasterassistance.gov. 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) 6592955 or email disastercustomerservice@sba.gov for more information on SBA disaster
assistance. Individuals who are deaf or hardofhearing 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.

About the U.S. Small Business Administration
The U.S. Small Business Administration makes the American dream of business ownership a reality. As
the only go-to resource and voice for small businesses backed by the strength of the federal
government, the SBA empowers entrepreneurs and small business owners with the resources and
support they need to start, grow or expand their businesses, or recover from a declared disaster. It
delivers services through an extensive network of SBA field offices and partnerships with public and
private organizations. To learn more, visit www.sba.gov.