Sen. Mark Udall urged business owners, nonprofit organizations and residents affected by this year’s wildfires and related flooding in El Paso, Larimer and 15 adjacent counties to apply for Small Business Administration disaster loans before an Oct. 9 deadline. The loans include working capital loans to help small businesses, and can also be used to repair or replace real estate, personal property including automobiles and business property damaged by the recent wildfires.
“Throughout the fires, we saw federal, state and local governments work together to help communities rebuild from this destructive fire season,” Udall said. “I want to encourage homeowners and business owners to seize every available federal resource to rebuild.”
The SBA loans are often available at lower rates than private-market loans and are available to homeowners, businesses and nonprofit organizations. To learn more about the SBA loans, requirements or eligibility, visit www.sba.gov/disaster.
The Oct. 9 deadline applies to physical damage. Homeowners and business owners have until May 7, 2013, to apply for SBA assistance for economic damage.
Udall has worked to ensure that Larimer County and El Paso County have had access to every available federal resource during and after the fires. Late last month, Udall urged homeowners living in and around the High Park Fire and the Waldo Canyon Fire burn areas to take advantage of a waiver of the 30-day waiting period typically applied to purchasing flood insurance policies.