The two locations at the Spring Valley County Library and Mountain View Community Center will now help provide disaster loan outreach to small businesses and nonprofits affected by the disaster
As the deadline for flood victims to apply for federal aid arrives Friday, the disaster recovery centers set up in San Diego County are being converted into disaster loan outreach centers. The Federal Emergency Management Agency worked with the state, county and city of San Diego to open two disaster recovery centers — at the Mountain View Community Center and Spring Valley Library — after floods from severe storms in January to help residents apply for federal aid.
Loan amounts and terms are set by SBA and are based on each applicant’s financial condition. Interest rates can be as low as 4 percent for businesses and 3.25 percent for nonprofits, with terms up to 30 years. Interest does not begin to accrue and repayment doesn’t begin until 12 months from the date of the first disaster loan disbursement. Starting next week, the disaster loan outreach center in Mountain View, located at 641 S. Boundary St., will be open from 9 a.m. to 6 p.m.
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