SBA offers disaster loan assistance to wildfire victims in Altadena and Pacific Palisades

During the City Council meeting held on April 10, 2025, in Cerritos, significant discussions emerged regarding community support for vulnerable populations, particularly seniors, and the ongoing recovery efforts following recent wildfires in the region.

One of the key topics addressed was the establishment of a Senior Services Committee. A resident emphasized the need for this committee, highlighting the risks seniors face from unscrupulous businesses. The speaker urged the council to prioritize the formation of this committee to ensure that the elderly are protected and supported, reflecting a growing concern for the welfare of this demographic in the community.

In addition to senior services, the meeting featured a presentation by Gabriel Perales, a public information officer from the U.S. Small Business Administration (SBA). He provided crucial information about disaster recovery resources available for individuals and businesses affected by the wildfires that occurred in January. Perales noted that while many residents may not have been directly impacted, they could still play a role in disseminating information to those who were.

Perales detailed the assistance programs offered by the SBA, which include disaster loans for homeowners, renters, and businesses. Homeowners can access loans of up to $500,000 for repairs or replacements, while renters can qualify for up to $100,000 for personal property losses. Businesses affected by the wildfires can apply for loans up to $2 million to cover damages and lost inventory. These loans come with favorable terms, including low-interest rates and deferred payments, aimed at easing the financial burden on those impacted.

The discussions at the meeting underscored the city's commitment to addressing the needs of its residents, particularly the most vulnerable, while also providing vital resources for recovery from natural disasters. As the council moves forward, the establishment of the Senior Services Committee and the dissemination of SBA resources will be critical in supporting the community's resilience and well-being.