Valley News -

Feds offer disaster relief loans to victims of Cranston Fire

 

Last updated 4/24/2019 at 4:20pm



RIVERSIDE - Riverside County businesses and nonprofits impacted by last summer's Cranston Fire near Mountain Center have one month left to apply for U.S. Small Business Administration disaster loans intended to help mitigate losses, federal officials said.

According to SBA spokeswoman Tanya Garfield, loans are available to farmers, small non-farm operations, agricultural cooperatives, aquaculture businesses and most private nonprofit organizations.

Garfield said applicants for Economic Injury Disaster Loans can seek as much as $2 million "to help meet working capital needs caused by the disaster.''

"Loans may be used to pay fixed debts, payroll, accounts payable and other bills that cannot be paid because of the disaster's impact,'' she said. "Economic injury assistance is available regardless of whether the applicant suffered any property damage.''

Interest rates for qualifying loan recipients will generally range from 2.5 to 3.61 percent, according to the SBA.

May 24 is the deadline to submit an application. Documents can be downloaded at https://disasterloan.sba.gov/ela.

The Cranston Fire, ignited by an arsonist on July 25, scorched just over 13,000 acres in the San Jacinto Mountains, destroying a dozen homes and other structures until it was contained two weeks later.

The communities of Idyllwild, Lake Hemet, Mountain Center and Pine Cove were evacuated at the height of the blaze.

Brandon McGlover, 33, of Temecula, pleaded guilty to arson in February and was sentenced to 12 years in state prison. He did not give a reason for starting the fire.

Anyone with questions about the disaster loans was encouraged to contact the SBA at 800-659-2955, or via email at [email protected]

 

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