Pfeiffer Fire victims declared eligible for federal disaster loans.

The locally-grown efforts to provide relief to Pfeiffer Fire victims have been an inspiration, and now the federal government is stepping up to do its part: The U.S. Small Business Administration (SBA) announced last week that California residents and business owners affected by the fire will be eligible for low-interest federal disaster loans.

SBA representatives will be on-site at the Big Sur Lodge today through Thursday from 9am to 6pm to answer questions about the loans and to help individuals complete their applications. 

Up to $200,000 will be available to homeowners to repair or replace damaged real estate, and up to $40,000 will be available to renters or homeowners to repair or replace damaged personal property. Businesses and nonprofit organizations can qualify for loans of up to $2 million.

Additional funds are also available through the SBA for both businesses and homeowners to help fund improvements that may protect, prevent or minimize the same type of disaster damage in the future. 

The SBA will also be offering Economic Injury Disaster Loans for any businesses or organizations to help meet working capital needs caused y the fire. These loans are available regardless of whether or not the entity suffered property damage. 

Loan amounts and terms are set by the SBA based on each applicant's financial condition, and be as low as 2.25 percent for renters and homeowners, 2.625 percent for private, nonprofit organizations and 4 percent for businesses. 

Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s website at disasterloan.sba.gov/ela.

Disaster loan information and application forms are also available from SBA’s customer service center by calling (800) 659-2955 or emailing disastercustomerservice@sba.gov. 

The filing deadline for property damage applications is March 24, 2014, and the deadline for economic injury applications is October 23, 2014.