Disaster loan outreach centers closing in San Diego and Spring Valley

SAN DIEGO (FOX 5/KUSI) — Businesses and residents who were affected by the historic storm and flooding in late January only have a few hours left to meet with representatives from the Small Business Administration and get personalized assistance.

SBA opened the centers in San Diego and Spring Valley on April 22 to help people applying for disaster assistance after their properties were impacted by the January floods.

The outreach centers at the Mountain View Community Center located at 641 S. Boundary St. and Spring Valley Library at 836 Kempton St. will officially close at 6 p.m. Thursday, the SBA said.

Although the deadline to apply for a property damage loan has passed, small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most nonprofits will have until Nov. 19 to apply for an economic injury disaster loan.

Loan repayment begins 12 months from the date of the first disbursement. Applicants may apply online and receive additional disaster assistance information at SBA.gov/disaster .

Interest rates for businesses are 4% and 3.25% for private nonprofits with terms up to 30 years, according to the SBA. Loan amounts and terms are based on each applicant’s needs.

For the latest news, weather, sports, and streaming video, head to FOX 5 San Diego & KUSI News.