For immediate posting and distribution: Mono County Residents and Businesses NOW Eligible for low interest Federal Loans if impacted by February Severe Winter Storms

Hello Everyone,

Mono County was moved from a contiguous county to a primary county disaster area as of May 2, 2023. This opens up new funding opportunities for homeowners, renters, HOA’s and businesses in the form of low-interest loans. Previously, as a contiguous county, Mono County businesses were only eligible for up to 2M if they could show economic injury. (Example: loss of revenue due to the road being closed) Now, businesses (2M), homeowners (200k), and renters (40k) are eligible for low-interest loans for damaged or destroyed real estate and personal property.

The application deadline is June 2, 2023.

APPLY NOW: www.DisasterAssistance.gov

Information from the Small Business Administration (SBA) is below and attached. Spanish versions of these documents will be emailed later this afternoon.

SBA LOANS AVAILABLE NOW!

On May 2, 2023,  Mono County was declared a Primary County.

Businesses of all sizes and private nonprofit organizations may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other business assets. SBA can also lend additional funds to businesses and homeowners to help with the cost of improvements to protect, prevent or minimize the same type of disaster damage from occurring in the future.

Disaster loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for up to $40,000 to repair or replace damaged or destroyed personal property, which includes their disaster-damaged personal vehicles.

It is very important for applicants to initiate an SBA application to ensure recovery options by the June 2, 2023, deadline. The Economic Injury Deadline is Jan. 3, 2024.