SBA to open disaster loan outreach center in Corte Madera after January floods

A public affairs specialist representing the U.S. Small Business Administration told the Corte Madera Town Council on March 3 that the county was included in a federal disaster declaration related to January flooding, making homeowners, renters, businesses and nonprofits eligible to apply for low‑interest disaster loans and mitigation funds.

The presenter (introduced as Jolanda Farrens) outlined loan types and typical terms: home physical damage loans with rates as low as 2.875%, business physical damage loans as low as about 4%, nonprofits about 3.625%, and economic injury disaster loans with later deadlines. She said there is a 12‑month deferral option on repayment with no interest accrual during that period once disbursement begins, and there are no application fees.

Key dates and services: the deadline for applying for physical damage loans is April 6 and for economic injury disaster loans is Nov. 3. The SBA will open a disaster loan outreach center in Corte Madera March 9–13 with extended hours (10:30 a.m.–7 p.m. on some days); the outreach center is intended to help residents complete applications and learn about mitigation funds.

Council members asked about loan amounts and turnaround times; staff and the SBA representative said business loans can be approved up to $2,000,000, homeowners up to $500,000 and that processing times vary by applicant, with many applications typically handled in a roughly three‑week period though each case is different.

Next steps: the county and SBA will publicize local outreach center information and staff encouraged affected residents and businesses to apply as soon as possible.