SACRAMENTO (CBS13) — The deadline is approaching for businesses affected by last summer’s civil unrest to apply for a federal disaster loan.
Loans are available for businesses in several local counties including Amador, Contra Costa, El Dorado, Placer, Sacramento, San Joaquin, Solano, Sutter and Yolo. Small nonfarm businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size are eligible for the Economic Injury Disaster Loans up to $2 million.
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The loans can be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid due to the disaster’s impact. Loans will have a 3% interest rate from businesses and 2.75% rate for private nonprofits, with terms up to 30 years.
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Officials say assistance is available even if the business did not suffer property damage.
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