Loans available for businesses impacted by Chinatown fire

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The Hudson Building on Dec. 24 (Photo by George Liu/NWAW)

The U.S. Small Business Administration (SBA) is offering low-interest working capital federal loans to small businesses economically impacted by the Hudson Building fire in Seattle’s International District. The SBA declared the fire a disaster following an April 1 request from Gov. Jay Inslee.

“These 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,” said SBA’s Seattle District Director Nancy Porzio.

Eligibility is based on the financial impact of the disaster only and not on any actual property damage. The loans have an interest rate of 4 percent for small businesses and 2.625 percent for private, nonprofit organizations with terms up to 30 years. The loan is restricted to small businesses without the financial ability to offset the adverse impact without hardship.

Applicants may apply online at disasterloan.sba.gov/ela or by calling SBA at 800-659-2955 or e-mailing disastercustomerservice@sba.gov. Individuals who are deaf or hard-of-hearing may call 800-877-8339. (end)

For free, personalized counseling to help affected small business owners in their recovery, call 509-358-7765.

The filing deadline to return economic injury applications is Jan. 5, 2015.

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