Fire RecoverySunday, November 1
The SBA opens a disaster loan center at Northtown Mall for people hit by the fires
The Daily Spokane team
If the fires cost you a home, a business, or belongings, the U.S. Small Business Administration opened a center at Northtown Mall this week to help you apply for low-interest disaster loans. It stays through the end of December. The loans cover losses from fires between July 23 and Aug. 31 in Spokane, Lincoln, Pend Oreille, Stevens, and Whitman counties, plus Benewah, Bonner, and Kootenai counties in Idaho, the SBA said.
Disaster loan rates start as low as 2.8% for homeowners
| Applicant | Loan up to | Rate as low as |
|---|---|---|
| Businesses | $2 million | 4% |
| Nonprofits | $2 million | 3.6% |
| Homeowners | $500,000 | 2.8% |
Source: NonStop Local KHQ
Homeowners can borrow up to $500,000 to rebuild and up to $100,000 to replace personal property like cars and clothing. Terms run as long as 30 years, and interest won't build and payments aren't due until 12 months after the money is disbursed. Farms and agricultural producers don't qualify.
- Apply: call 866-SBA-HELP or email disastercustomerservice@sba.gov
- State cash grant applications closed Friday, Oct. 30
- State grants: up to $2,250 for a household of five
Fire relief funds have taken in millions, and much is still saved for later
- $5 million
- received by Innovia for Spokane Complex fire victims
- $160,000
- distributed by Innovia so far
- $1.3 million
- received by the city's Home Starts Here fund
- $600,000
- set aside for asbestos testing, not yet spent
Source: KXLY.com
Innovia is saving most of what remains for long-term needs, including home rebuilds. City officials say $63,000 has gone toward gas and grocery gift cards for fire victims.
Sources: KXLY.com, NonStop Local KHQ