PRESS RELEASE

Inyo County Drought Impacted Residents and Businesses are

Eligible for Low Interest Loans and Grants

Inyo County residents and businesses are eligible for low interest loans and grants as a result of the Inyo

County Board of Supervisors approving Resolution 2014-09 Proclaiming a Local Drought Emergency.

As part of its proclamation of a local drought emergency, the Board of Supervisors requested State

assistance to offset the effects of severe drought conditions that exist throughout Inyo County. Counties

throughout California have joined Inyo in proclaiming local drought emergencies and, as a result of these

proclamations, the U.S. Secretary of Agriculture has designated California as an ”agricultural disaster” area.

As a result of this designation, 54 different California counties have now become eligible for SBA Economic

Injury Disaster Loans or Rural Repair and Rehabilitation Loans and Grants.

SBA Economic Injury Disaster Loans

The SBA Economic Injury Disaster Loans offset economic losses because of reduced revenues caused by the

drought that began January 14, 2014. The eligibility for these loans is based on the financial impact of the

disaster only and not on any actual property damage. These loans have an interest rate of 4% for businesses

and 2.65% for private non-profit organizations, a maximum term of 30 years, and are available to small

businesses and most private, non-profits without the financial ability to offset the adverse impact without

hardship. The deadline to apply for these loans is September 15, 2014.

Applicants may apply online using the Electronic Loan Application via SBA’s secure web site at

http://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 [email protected]. Individuals who are deaf or hard-ofhearing

may call (800) 877-8339. For more information about SBA’s disaster assistance programs, visit

http://www.sba.gov/disaster.

USDA Rural Repair and Rehabilitation Loans and Grants

The Rural Repair and Rehabilitation Loan and Grant program is for very low-income homeowners to repair,

improve, or modernize their dwellings or to remove health and safety hazards. More specifically, due to the

drought, some Inyo County homeowners with shallow wells may need to drill a new well to access clean

potable water, but do not have the funds available to have this done. To be eligible, the homeowneroccupant

must be unable to obtain affordable credit elsewhere and must have very low income, defined as

below 50 percent of the area median income. They must need to make repairs and improvements to make

the dwelling more safe and sanitary or to remove health and safety hazards. Loans of up to $20,000 are

available to eligible applicants at 1% interest for up to 20 years. Grants of up to $7,500 are also available

KEVIN D. CARUNCHIO

County Administrative Officer

TEL: (760) 878-0292

FAX: (760) 878-0465

E-mail: [email protected]

COUNTY OF INYO

ADMINISTRATOR’S OFFICE

P. O. Drawer N

INDEPENDENCE, CALIFORNIA 93526

For Additional Information Contact:

Kelley Williams

Assistant to the County Administrator

(760) 878-0292

[email protected]

but only to homeowners who are 62 years old or older and cannot repay a Section 504 loan. Loans and

grants can be combined for up to $27,500 in assistance.

For income and property eligibility visit the USDA eligibility site at

http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do or visit the USDA website at

http://www.rurdev.usda.gov/HAD-RR_Loans_Grants.html.

Applications and information on the Rural Repair and Rehabilitations Loans and Grant programs is also

available by calling the USDA customer service at (559) 734-8732 or emailing [email protected].

For more information please contact the Inyo County Administrator’s office at (760) 878-0292 or visit the

following Inyo County Agriculture webpage for more Inyo County Drought Assistance information

http://www.inyomonoagriculture.com/.