SACRAMENTO – The U.S. Small Business Administration on May 31 announced the opening of an SBA Business Recovery Center in Monterey Park, Los Angeles County, on June 5-15 to provide a wide range of services to businesses impacted by the mass shooting and related investigation that occurred Jan. 21-28.
During Lunar New Year celebrations, 11 people died when a gunman opened fire Jan. 21 at the Star Ballroom Dance Studio in Monterey Park. After that shooting, the gunman went to the Lai Lai Ballroom and Studio in Alhambra, but he was disarmed in the lobby by an employee. The gunman died of a self-inflicted gunshot wound the following day following a standoff with law enforcement in Torrance.
“Due to the severe economic losses inflicted on California businesses, we want to provide every available service to help get them back on their feet,” said SBA Director Tanya N. Garfield of the SBA’s Disaster Field Operations Center-West. “The center will provide a one-stop location for businesses to access a variety of specialized help. SBA customer service representatives will be available to meet individually with each business owner.”
No appointment is necessary. All services are provided free of charge. The center will open as indicated below.
Business Recovery Center
Barnes Park Service Club House
440 S. McPherrin Ave.
Monterey Park, CA 91754
Opens at 11 a.m., Monday, June 5
Mondays through Thursdays, 11 a.m. to 7 p.m.
Closes at 7 p.m. Thursday, June 15
“Small non-farm businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size may qualify for Economic Injury Disaster Loans of up to $2 million to help meet financial obligations and operating expenses which could have been met had the disaster not occurred,” said Garfield.
“These loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact. Disaster loans can provide vital economic assistance to small businesses to help overcome the temporary loss of revenue they are experiencing.”
Eligibility is based on the financial impact of the disaster only and not on any actual property damage. These loans have an interest rate of 3.305% for small businesses and 2.375% for private nonprofit organizations with terms up to 30 years and are restricted to small businesses without the financial ability to offset the adverse impact without hardship.
For business owners who are unable to visit the business recovery center, they may apply online using SBA’s secure website at https://disasterloanassistance.sba.gov/.
To receive additional disaster assistance information, visit SBA’s website at www.sba.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email [email protected] for more information. For people who are deaf, hard of hearing, or have a speech disability, dial 711 to access telecommunications relay services.
Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Rd., Fort Worth, TX 76155.
The deadline to apply for economic injury is Jan. 5, 2024.