In the wake of the disruptive I-10 freeway fire last November, the U.S. Small Business Administration (SBA) steps up to aid businesses hit by the catastrophe. Starting now, Los Angeles County entrepreneurs feeling the financial burn from the blaze can apply for low-interest federal disaster loans. As reported by the Los Angeles County Department of Economic Opportunity, these loans are part of a concerted push to revitalize the local economy and support the small businesses that keep it thriving.
Organizations from farmers to non-profits are eligible for the Economic Injury Disaster Loan (EIDL) program with loans capping at $2 million. "Their success is our success," Supervisor Hilda Solis said, emphasizing the importance of the aid in light of the I-10 turmoil. Amidst the fumes of misfortune, President Biden has been credited by Solis for ensuring prompt federal response. According to the same statement, the SBA Business Recovery Center in Downtown L.A. now rolling out the red carpet for those needing a fiscal fire escape, with no appointments necessary.
The physical location of the SBA Business Recovery Center is at the Downtown Industrial District Business Improvement District at 725 Crocker Street, where multifaceted support in various languages is on offer. Besides, those who prefer the digital realm can securely shoot an email to [email protected] or make a phone call to (916) 735-1501 within standard working hours. Further assistance is just a click away at the SBA's disaster-specific website or by reaching out via email or to the Customer Service Center for more comprehensive information.
This outpouring of aid, however, didn't start with the SBA declaration. The community response was swift and strategic as the City and County of Los Angeles, alongside Together for LA, took immediate steps to mitigate the fire's stranglehold. The first emergency aid center, providing services from legal aid to healthcare, witnessed a tangible measure of success. It hosted multiple agencies and non-profits and served over a hundred businesses and workers to the tune of around $6.7 million in estimated damages.
Financial pillars of the community like Wells Fargo haven't turned a blind eye either. With $50,000 in grants fueling immediate action with DEO and Inclusive Action for the City, relief was tangible. "Microbusinesses ... often don't qualify for support services or resources distributed during a crisis," said Doug Smith, from Inclusive Action for the City, spotlighted the critical need addressed by these targeted grants.
Local businesses and workers impacted by the fire can still reach out to the Los Angeles County Business Recovery Center or tap into the DEO's wellspring of resources, from free legal services to talent development. The East Los Angeles Entrepreneur Center is also a hub for this support with staff standing by to aid in English and Spanish.
