November 2nd, 2017
Are you a Hood River County business with economic losses from the Eagle Creek Fire? Help is here. Hood River County businesses can now get direct aid from the Federal SBA (Small Business Administration) disaster loan program to help Hood River businesses recover from lost revenue from September's Eagle Creek Fire.
SBA is accepting loan applications now through next summer from business and nonprofit organizations suffering Eagle Creek Fire impacts in Hood River, Multnomah, Wasco and adjacent counties.
The program was activated after Governor Kate Brown wrote a letter to SBA seeking the economic injury loan program at the request of Hood River County Sheriff’s Office of Emergency Management and partner agencies at Multnomah County, Wasco County and Oregon Office of Emergency Management (OEM).
To demonstrate the need to bring the recovery program to our area, Hood River County Emergency Management forwarded an initial 14 SBA loan interest worksheets from Hood River and Cascade Locks businesses. At least five worksheets were required by SBA.
The Hood River business worksheets cited cumulative losses of $215,746 in revenue for three weeks of the Eagle Creek Fire in September. This was from 14 small business, just a small sample of the overall businesses affected. Businesses cited long term impacts of this devastating wildfire during peak Gorge tourism season, complications of long term I-84 closures, regional media attention and smoky air that deterred visitation and normal business activities.
The loan terms are favorable - long term (up to 30 years,) low interest rates (2.5 – 3.3%) to help offset business losses from the fire disaster.
All businesses in Hood River and qualifying counties are now able to apply directly to SBA. Applicants may apply online, receive additional disaster assistance information and download applications at https://disasterloan.sba.gov/ela. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email email@example.com for more information on SBA disaster assistance.
Please see the SBA press release for more detailed information.
Hood River County businesses may still apply for a similar SBA loan program for losses in the January 8-20 Winter Storm emergency. Details here.