Fires Devastating for Small Businesses in California: Here's How to Get Aid

The recent wildfires in California have had a devastating impact on small businesses, with many facing lost revenue, spoiled food, and devastated communities.

Financial Strain on Small Businesses

"Unexpected events like this can put a significant financial strain on small businesses like ours," said Raquel "Rockey" Smeir, owner of My Friends Café in Sierra Madre.

Government Aid Available

* SBA Economic Injury Disaster Loans: For working capital needs up to $2 million.
* Disaster Loans for Homeowners: Up to $500,000 to repair damaged real estate.
* Disaster Loans for Renters: Up to $100,000 to replace damaged personal property.

Local Assistance

* Los Angeles Chamber of Commerce Small Business Recovery Fund: Grants ranging from $5,000 to $10,000.

Non-Profit Assistance

* Community Development Financial Institutions (CDFIs): Offer grants and loans at better rates than traditional banks.

Industry-Specific Assistance

* Music Industry: MusiCares and Live Nation offer assistance to musicians and venues affected by disasters.

Beware of Scams

* Scammers often target vulnerable businesses after disasters.
* Be cautious about sharing information and carefully review loan terms before signing.

Stay Informed and Vigilant

* Check with the Small Business Administration (SBA) and local government agencies for updates on aid programs.
* Reach out to industry organizations and CDFIs for support.
* Stay alert for potential scams and protect your business's financial security.