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Loans available to businesses impacted by storms 

Local businesses and nonprofits whose bottom lines were hit hard by last winter's storms and the recent Mud Creek Slide on Highway 1 may file economic injury forms with SLO County to receive low-interest loans from the U.S. Small Business Administration (SBA).

County Office of Emergency Services Manager Ron Alsop told New Times his office is currently accepting the forms, which can be faxed, mailed, or submitted online.

SBA loans are available now for businesses that were impacted by the numerous storms in February, while loans are being considered by the SBA for businesses impacted by the Mud Creek Slide, which closed a substantial segment of Highway 1 since May 20.

"The context here is economic injury ... to motels, restaurants, and other businesses who have seen decreased revenue, either due to the earlier winter storms or from the effect of the Mud Creek Slide closure," Alsop said.

Business owners who want to submit forms for Mud Creek Slide impacts must show losses between May 20 and the current date—which SLO County will then submit to the SBA.

"We will then get them to the SBA and the SBA will determine if they will open a second disaster loan period," Alsop said.

Alsop added that the SBA only needs five businesses to document economic injury from a disaster for the federal agency to open a new loan period.

"If we can get the word out, we might be able to pull this off," he said. Δ


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