The Arcadia Chamber would like to say congratulations to Chamber member The Derby, Hey SoCal Readers' Choice Award Winner for American Dining, Best Restaurant, and Steaks, and Top 3 for Best Romantic Restaurant! 🎉 ... See MoreSee Less
Welcome to our Ambassador Team for 2024! Say hello to Jose Luis Correa of Hey SoCal, Chelsea Jones of Santa Anita Park, Diane from Always Best Care, Oriana of PrimeLending, A PlainsCapital Company - Monrovia, Katy Guo of Dynasty Wealth, Vicki Knight of Century Sewer Drain and Plumbing, Nicholas Lin of R&D Incentives Group, David Lamb of David Lamb Woodworx, Christine Zito of Pure Media Marketing, John Sun of Budget Blinds, and Xavier Figueroa of La Trash Junkers. Not pictured - Will Grismer and Andrew Chan of Central Escrow Group. This team is here to assist and answer questions about the Chamber, and interact with new and existing members! We're looking forward to a great 2024! ... See MoreSee Less
US Small Business Administration Fact Sheet - Economic Injury Disaster Loans for Monterey Park Mass Shooting & Related InvestigationU.S. SMALL BUSINESS ADMINISTRATION FACT SHEET – ECONOMIC INJURY DISASTER LOANS CALIFORNIA Declaration #17860 (Disaster: CA-00375)Incident: MONTEREY PARK MASS SHOOTING & RELATED INVESTIGATION occurring: January 21 through January 28, 2023 in Los Angeles County, California; and the contiguous California counties of: Kern, Orange, San Bernardino & VenturaApplication Filing Deadline: January 5, 2024Disaster Loan Assistance Available:Economic Injury Disaster Loans (EIDLs) – Working capital loans to help small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private, non-profit organizations of all sizes meet their ordinary and necessary financial obligations that cannot be met as a direct result of the disaster. These loans are intended to assist through the disaster recovery period.Credit Requirements:• Credit History – Applicants must have a credit history acceptable to SBA.• Repayment – Applicants must show the ability to repay the loan.• Collateral – Collateral is required for all EIDL loans over $25,000. SBA takes real estate as collateral when it is available. SBA will not decline a loan for lack of collateral, but SBA will require the borrower to pledge collateral that is available.Interest Rates:The interest rate is determined by formulas set by law and is fixed for the life of the loan. The maximum interest rate for this disaster is 4 percent.Loan Terms:The law authorizes loan terms up to a maximum of 30 years. SBA will determine an appropriate installment payment based on the financial condition of each borrower, which in turn will determine the loan term.Loan Amount Limit: The law limits EIDLs to $2,000,000 for alleviating economic injury caused by the disaster. The actual amount of each loan is limited to the economic injury determined by SBA, less business interruption insurance and other recoveries up to the administrative lending limit.SBA also considers potential contributions that are available from the business and/or its owner(s) or affiliates. If a business is a major source of employment, SBA has the authority to waive the $2,000,000 statutory limit.Loan Eligibility Restrictions:Noncompliance – Applicants who have not complied with the terms of previous SBA loans may not be eligible. This includes borrowers who did not maintain required flood insurance and/or hazard insurance on previous SBA loans.Note: Loan applicants should check with agencies / organizations administering any grant or other assistance program under this declaration to determine how an approval of SBA disaster loan might affect their eligibility.Refinancing:Economic injury disaster loans cannot be used to refinance long term debts.Insurance Requirements:To protect each borrower and the Agency, SBA may require you to obtain and maintain appropriate insurance. By law, borrowers whose damaged or collateral property is located in a special flood hazard area must purchase and maintain flood insurance. SBA requires that flood insurance coverage be the lesser of 1) the total of the disaster loan, 2) the insurable value of the property, or 3) the maximum insurance available.Applicants may apply online, receive additional disaster assistance information and download applications at disasterloanassistance.sba.gov/. Applicants may also call SBA’s Customer Service Center at (800) 659 2955 or email email@example.com for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services. Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155Visit our website for this information in multiple languages. ... See MoreSee Less
The SBA offers disaster assistance in the form of low interest loans to businesses, nonprofit organizations, homeowners, and renters located in regions affected by declared disasters. SBA also provide...