News Blog
2010 Salmon Closure Prompts Disaster Loans
April 6, 2011
The U.S. Small Business Administration is offering Economic Injury Disaster Loans up to $2 million for businesses affected by the 2010 salmon fishery closure at three locations around Monterey Bay.
Mike Dayton, Acting Secretary of California Emergency Management Agency requested the SBA declare the salmon closure a disaster on March 25—a little late, it would seem, considering a full salmon season opened April 2—on behalf of Gov. Jerry Brown. The declaration includes almost 30 California and Oregon counties.
The SBA has established outreach centers in Santa Cruz, Moss Landing and Monterey as well as dozens more across the state, and is encouraging business owners and non-profit organizations to take advantage of the assistance.
The capital loans are available at interest rates of 4 percent for businesses and 3 percent for private, non-profit organizations, with terms up to 30 years. The amount of the loan is based upon SBA’s analysis of claims.
Director of SBA’s Disaster Field Operations Center-West, Alfred E. Judd says the loans “may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact.” Eligible businesses include obvious candidates like fisherman and suppliers of fishing gear, but can be extended to restaurants and other service sector businesses who depend on fisherman as regular customers.
SBA Loan Outreach Center locations and hours as follows:
Santa Cruz The Harbor Public Meeting Room 365 A Lake Avenue Mondays, 1pm - 5pm
Moss Landing Moss Landing Harbor District 7881 Sandholt Road (Boardroom) Tuesdays, 1pm - 5pm Wedesdays, 9am - 12:30pm & 1pm - 5pm
Monterey Monterey Youth Center 777 East Pearl Street Thursdays, 1pm- 5pm Fridays, 9am - 1pm
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