Small Business Administration offers disaster relief after Bolt Creek Fire

Dec 2, 2022, 11:47 AM

human caused...

The SBA announced Thursday that they would be offering disaster relief loans to businesses impacted by the Bolt Creek Fire. (Photo courtesy of KIRO 7)

(Photo courtesy of KIRO 7)

The U.S. Small Business Administration (SBA) announced Thursday they would be offering disaster relief loans to businesses impacted by the Bolt Creek Fire.

On Nov. 29, Gov. Jay Inslee requested the wildfire be declared a disaster by the SBA. The Bolt Creek Fire raged from Sept. 10 until Oct. 21 and burned more than 14,000 acres.

Bolt Creek Fire team completes containment strategy, will withdraw

Businesses across the tourist-dependent valley suffered greatly as the fire closed Highway 2 for weeks, with charred trees falling across the road.

Businesses missed out on four weeks of hiking season, as well as some of the annual Oktoberfest in Leavenworth.

The administration offers low-interest federal disaster loans to businesses affected by the fire in Chelan, Island, King, Kitsap, Kittitas, Pierce, Skagit, Snohomish, and Yakima counties.

The loans have an interest rate of 3.04% for small businesses and 1.875% for private nonprofit organizations with terms of up to 30 years.

“SBA’s mission-driven team stands ready to help Washington’s small businesses and residents impacted by the Bolt Creek Wildfire,” said Administrator Isabella Casillas Guzman. “We’re committed to providing federal disaster loans swiftly and efficiently, with a customer-centric approach to help businesses and communities recover and rebuild.”

These relief loans can be used to pay off fixed debts, payroll, accounts payable and other bills that couldn’t be paid due to the disruption to income caused by the fires. This is a hugely important and “vital economic assistance” for small businesses who lost so much during the wildfires, the SBA says.

More snow Friday night? Maybe. Cold for the next 24 hours? Yes!

Eligibility of the loans is based on the financial impacts of the fire and not actual property damage, the SBA clarifies, with the loans focusing specifically on small nonfarm businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most nonprofits.

The loans “are restricted to small businesses without the financial ability to offset the adverse impact without hardship,” the SBA added.

You can find more information on how to know if you are eligible for the loan and how to apply on the SBA’s website.

MyNorthwest News

Former President Donald Trump sits in Manhattan Criminal Court in New York City, on May 20, 2024. (...

Bill Kaczaraba

Bellevue man donates $1 million to Trump super PAC

A Bellevue man donated $1 million to a Political Action Committee (PAC) that supports Donald Trump just a day after he became a convicted felon.

2 hours ago

Photo: Auburn Police Officer Jeff Nelson....

James Lynch

Auburn Officer Jeff Nelson’s fate now in hands of jury

It has been five years since Auburn Police Officer Jeff Nelson shot and killed 26-year-old Jesse Sarey who was going through a crisis.

3 hours ago

Queen Anne, Uptown, parking...

Bill Kaczaraba

Power company investigating early morning outage to Queen Anne, Magnolia

Seattle City Light wants to know why 10,000 customers lost power in the early morning hours on Saturday.

4 hours ago

Image: A Seattle Police Department vehicle can be seen parked in the city of Seattle....

Bill Kaczaraba

Police search for suspects in West Seattle fatal shooting

In the early hours of Saturday morning, Seattle Police detectives launched an investigation into a fatal shooting in West Seattle.

5 hours ago

Photo: Medics respond to a crash in SeaTac on June 21, 2024....

Julia Dallas

1 killed, several others injured in major SeaTac car crash

Five people and two cars were involved in a violent car crash in SeaTac on Friday, the King County Sheriff's Office told KIRO Newsradio.

22 hours ago

Photo: Lacey police are investigating a deadly shooting....

KIRO 7 News Staff

21-year-old arrested in Lacey double murder after police chase

A 21-year-old man led police on a chase following the murder of two people whom he lived with in Lacey.

23 hours ago

Small Business Administration offers disaster relief after Bolt Creek Fire