Deadline nearing for Pfeiffer Fire federal disaster loans

Small businesses who suffered economic injury from the Pfeiffer Fire have three weeks left to apply for a federal disaster loan from the U.S. Small Business Administration.

The Pfeiffer Fire occurred December 16 – 20, 2013.

Small nonfarm businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size may apply for Economic Injury Disaster Loans of up to $2 million to help meet working capital needs caused by the disaster.

These low-interest federal disaster loans are available in Monterey County and the neighboring counties of Fresno, Kings, San Benito, San Luis Obispo, and Santa Cruz.

The interest rate is 4 percent for businesses and 2.625 percent for private nonprofit organizations with terms up to 30 years. Loan amounts and terms are set by SBA and are based on each applicant’s financial condition.

Applicants may apply online.