Low-interest federal disaster loans are available to help San Diego small businesses affected by civil unrest that began on May 26.
The Small Business Administration Economic Disaster Loans can be up to $2 million to help meet financial obligations and operating expenses like payroll or fixed debts that could not have been met had the civil unrest not occurred. The loans are not intended to cover losses from property damage, nor is it a general COVID-19 related assistance.
“These loans can be a critical first step for affected businesses, and we encourage anyone eligible to apply,” said Jeff Toney, director of the San Diego County Office of Emergency Services.
According to the county, the disaster loans will have an interest rate of 3% for small businesses and 2.75% for private nonprofit organizations with terms up to 30 years.
The deadline to apply for the loans is April 7, 2021.
Businesses can apply online and receive additional information by visiting here.
