After the Riots / NEWS IN BRIEF : LOANS : $6.8 Million in SBA Funds Approved
The Small Business Administration has approved more than 100 loans, totaling $6.8 million, for Los Angeles riot victims.
The low-interest, long-term loans are available to property or business owners to repair or replace property damaged or lost during the fires and looting.
Businesses may qualify for up to $500,000 to replace inventory, machinery, equipment and real estate. Free assistance in completing application packages is available to any business owner through the Minority Business Development Agency, which has representatives in each of the area’s disaster application centers. Information is available by calling (800) 525-0321.
The deadline to apply for riot-related SBA loans is July 15. Business owners who are suffering financial losses because of decreased business or other factors related to the riots have until Feb. 2, 1993, to apply for supplemental economic injury loans.
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