President Declares Wildfire Disaster Aid for Los Angeles Nonprofits
Published Date: 1/24/2025
Notice
Summary
The President declared a major disaster for Los Angeles, California, due to wildfires and strong winds starting January 7, 2025. Non-profit groups providing essential services can now apply for low-interest disaster loans to help recover. Physical damage loan applications are due by March 17, 2025, and economic injury loans by October 15, 2025.
Analyzed Economic Effects
3 provisions identified: 2 benefits, 1 costs, 0 mixed.
Disaster Loans Available to Nonprofits
Private non-profit organizations that provide essential governmental services in the area affected by the January 7, 2025 wildfires can apply for SBA disaster loans using the MySBA Loan Portal (https://lending.sba.gov). The Presidential declaration (FEMA-4856-DR) was issued January 15, 2025 and covers Los Angeles County.
Loans Offered at 3.625% Interest
The SBA set the interest rate for eligible non-profit physical damage and economic injury disaster loans at 3.625%. The rate applies both to non-profit organizations with credit available elsewhere and those without credit available elsewhere for the listed loan types.
Loan Application Deadlines Provided
Physical damage loan applications must be filed by March 17, 2025, and Economic Injury (EIDL) loan applications must be filed by October 15, 2025, via the MySBA Loan Portal or locally announced locations. Contact information includes the SBA disaster assistance customer service center and Alan Escobar at the SBA Office of Disaster Recovery & Resilience.
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Key Dates
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