The Chico Disaster Loan Outreach Center is moving today from the North Valley Plaza to the Butte College Small Business Development Center.
CHICO, Calif. – The Chico Disaster Loan Outreach Center is moving today from the North Valley Plaza to the Butte College Small Business Development Center.
The center, established by the Small Business Administration, provides vital assistance to survivors of the Park Fire, helping residents and business owners apply for disaster loans and recovery programs.
Businesses and private nonprofits can borrow up to $2 million to repair or replace damages, while homeowners can access loans up to $500,000 for property damage. Renters and homeowners are also eligible for up to $100,000 for personal property, including vehicles.
Interest rates start at 2.688% for homeowners, 3.25% for nonprofits, and 4% for businesses, with repayment terms up to 30 years. Importantly, interest does not accrue until 12 months after the loan’s start date.
While …