Overview of Grizzly Creek Fire SBA Disaster Assistance
The U.S. Small Business Administration is offering low-interest federal disaster loans for working capital to help small businesses economically impacted by the Grizzly Creek Fire that began Aug. 10, 2020, SBA Administrator Jovita Carranza announced on September 16, 2020. SBA acted under its own authority to declare a disaster following a request received from Gov. Jared Polis on Sept. 8, 2020. The disaster declaration makes SBA assistance available in Eagle, Garfield, Mesa, Pitkin, Rio Blanco, and Routt counties in Colorado, and Grand and Uintah counties in Utah. In consideration of the public health concerns due to the Coronavirus pandemic, SBA will establish a Virtual Business Recovery Center to answer questions about SBA’s disaster loan program, explain the application process and help each individual complete their electronic loan application.
Small nonfarm businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size may qualify for Economic Injury Disaster Loans of up to $2million to help meet financial obligations and operating expenses which could have been met had the disaster not occurred. These loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact. Disaster loans can provide vital economic assistance to small businesses to help overcome the temporary loss of revenue they are experiencing.
Eligibility and Application Process
Eligibility is based on the financial impact of the disaster only and not on any actual property damage. These loans have an interest rate of threepercent for small businesses and 2.75percent for private nonprofit organizations with terms up to 30years and are restricted to small businesses without the financial ability to offset the adverse impact without hardship.Applicants may apply online, receive additional disaster assistance information and download applications at https://disasterloanassistance.sba.gov/. 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. Individuals who are deaf or hard-of-hearing may call (800)877-8339. Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, FortWorth, TX 76155.
Deadline
The deadline to apply for economic injury is June 15, 2021.
Virtual Business Recovery Center
Center Information
- Monday - Sunday (7 days/week)
- 8 a.m. - 8 p.m. EDT
- FOCWAssistance@sba.gov
- (800) 659-2955
Loan Information for Businesses
- Economic Injury: Only for small businesses and most private non-profit organizations suffering adverse financial impacts of the disaster (with or without property loss), up to $2,000,000 for working capital to help pay obligations until normal operations resume.
Resources
- U.S. Small Business Administration News Release: SBA Offers Disaster Assistance to Colorado Small Businesses Economically Impacted by the Grizzly Creek Fire
- Flyer: Colorado Virtual Business Recovery Center
- Spanish Flyer: Colorado Virtual Business Recovery Center
- Fact Sheet: Economic Injury Disaster Loans
- Spanish Fact Sheet: Economic Injury Disaster Loans
About the U.S. Small Business Administration
The U.S. Small Business Administration makes the American dream of business ownership a reality. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.