California Businesses Get Low-Interest Loans After 2026 Oil Spill Mess
Published Date: 9/23/2026
Notice
Summary
California businesses in Los Angeles and nearby counties hit by the May 2026 Plains Oil Spill can now apply for special low-interest disaster loans to help recover from economic damage. These loans offer rates as low as 3.625% and applications are open until June 21, 2027. If your business or nonprofit struggled because of the spill, this is your chance to get financial help and bounce back stronger!
Analyzed Economic Effects
4 provisions identified: 4 benefits, 0 costs, 0 mixed.
Disaster Loans Available to Affected Businesses
If your business or nonprofit suffered economic harm from the Plains Oil Spill during May 22, 2026 through May 28, 2026 and is located in Los Angeles, Kern, Orange, San Bernardino, or Ventura counties, you can apply for an Economic Injury Disaster Loan (EIDL). Applications may be submitted through the MySBA Loan Portal or at locally announced locations, and the application deadline is June 21, 2027.
Interest Rate for Businesses and Cooperatives
Businesses and small agricultural cooperatives that do not have credit available elsewhere are eligible for EIDLs at an interest rate of 4.000 percent.
Interest Rate for Private Nonprofits
Private nonprofit organizations without credit available elsewhere are eligible for EIDLs at an interest rate of 3.625 percent.
How and Where to Apply
You can apply for these disaster loans online at the MySBA Loan Portal (https://lending.sba.gov) or in person at locally announced locations; the SBA also provides a disaster assistance customer service center (1-800-659-2955) and an email contact. If you are deaf, hard of hearing, or have a speech disability, you may use 7-1-1 for telecommunications relay services.
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