KOREATOWN : Application Help for Quake Loans Offered
Owners of businesses, rental properties and homes who suffered either physical damage to their properties or economic setbacks as a result of last year’s Jan. 17 earthquake may still receive free assistance in preparing federal disaster loan application packages. The aid is offered by the Business Development Center of the Pacific Asian Consortium in Employment (PACE), a local community service organization.
The deadline to apply for Small Business Administration physical- and economic-injury loans was extended last November to Jan. 20.
Although applicants have been coming through the consortium steadily over the past year, there are many earthquake victims who have just recently begun to realize the extent of the damage they suffered, said Isabel Duran, a loan counselor with PACE who has been assisting earthquake victims all year.
“What we’ve been seeing lately are business owners who have only begun feeling the negative impact on their business now,” she said. “We’re also seeing lots of property owners whose damage has not been apparent until now, such as plumbing damage, which usually isn’t noticeable until months after it occurs.”
Duran is sure there are still many earthquake victims who are not aware they qualify for assistance.
The PACE Business Development Center is open from 9 a.m. to 4 p.m. Monday through Friday. Information: (213) 382-2936.