Natural Disaster Federal Loan Update

In the wake of the Thomas Fire and 1/9 Debris Flow, the U.S. Small Business Administration has approved nearly $7 million in home-repair loans in Santa Barbara County, with interest rates ranging from 1.75 to 3.5 percent. Low-interest (2.385 percent) loans for impacted businesses total roughly $5 million. The application deadline for property-damage loans has expired, but small businesses and private nonprofits have until 10/15 to apply.