Owners can get loans up to $500K to repair or replace homes. Owners and renters can also get loans to fix damaged cars.
New federal aid is now available for Angelenos and businesses impacted by the historic Los Angeles storms in February, Mayor Karen Bass’ office announced on Tuesday, May 21.
The U.S. Small Business Administration opened a Virtual Disaster Loan Outreach Center on Monday to help Angelenos navigate the resources available to them. The center will be open weekdays from 8 a.m. to 4:30 p.m. Residents can call 916-735-1501 for direct assistance or email FOCWAssistance@sba.gov.
The deadline to apply for property damage is July 16. The deadline to apply for economic injury is Feb. 18, 2025.
“The city’s recovery began the second the storm started and continued urgently as we worked to reopen roads impacted by mudslides and established Local Assistance Centers for storm recovery,” Bass said in a statement. “I thank Gov. (Gavin) Newsom for pushing for assistance for Los Angeles and SBA Administrator Isabel Guzman for taking action to help impacted Angelenos.”
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. The SBA can also lend additional funds to businesses and homeowners to help prevent or minimize damage in the future.
For small businesses, most private nonprofit organizations of any size, and other qualifying entities, SBA offers Economic Injury Disaster Loans to help meet working capital needs caused by the disaster. Economic injury assistance is available regardless of whether the business suffered any property damage.
Disaster loans up to $500,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for up to $100,000 to repair or replace damaged or destroyed personal property, including personal vehicles.
Applicants may apply online and receive additional disaster assistance information at SBA.gov/disaster. Applicants may also call SBA’s Customer Service Center at 800-659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. People who are deaf, hard of hearing, or have a speech disability can dial 7-1-1 to access telecommunications relay services.
In February, the city of Los Angeles opened Local Assistance Centers for homeowners, renters and business owners impacted by the early February storms. These centers served as a one-stop shop where Angelenos could ask questions and obtain information regarding services and assistance available from government agencies and local nonprofits.
