By LILY TINOCO | Assistant Editor
The Santa Monica and Malibu Pacific Palisades chambers of commerce hosted a Palisades Fire Disaster Relief Workshop for Businesses on Tuesday, January 14, directing impacting individuals to different resources.
President and CEO of Los Angeles County Economic Development Corporation Stephen Cheung explained that when the COVID-19 pandemic hit LA, many resources became available for small business owners—and simultaneously, very overwhelming. As a result, Together For LA was created to support businesses in the wake of disasters.
Together for LA was created in partnership with LAEDC, LA Chamber of Commerce and others, designed to be a “one-stop-shop” for resources for businesses, Cheung explained. The website currently offers small business support and recovery resources, including business assistance, workforce development and more.
Federal Emergency Management Agency Private Sector Liaison Kkoby Griffin joined the workshop to explain what FEMA is doing to help state and local governments.
“State and local governments may receive 100% reimbursement for emergency work,” Griffin explained. “As the president did for states affected by Hurricane Helene, he has approved 100% of cost share for public assistance categories A and B for 180 days. This means we will cover 100% of the costs that the state and local governments are encountering for debris removal, life-saving and life-sustaining activities, including fire suppression efforts.”
For individual support, LA County residents can apply for FEMA assistance, allowing access to resources and funding “to jumpstart their recovery,” Griffin explained.
“Assistance can include grants for temporary housing and home repairs, low-cost loans to cover uninsured property losses, and other programs to help individuals and business owners recover from the effects of the disaster,” according to FEMA.
Griffin explained that individuals with insurance should file with their insurance before applying for FEMA. For those who do not have insurance or are underinsured, FEMA assistance is available to help cover needs not met by insurance.
Impacted individuals and business owners can apply for assistance by visiting disasterassistance.gov or calling 1-800-621-3362.
A representative from the United States Small Business Administration explained that disaster assistance is currently available in the form of low-interest loans.
Different types of disaster loans available include a Business Physical Disaster Loan for businesses to repair or replace disaster-damaged property owned by the business; Economic Injury Disaster Loans to help small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private, nonprofit organizations meet financial obligations that cannot be met as a result of the disaster; and Home Disaster Loans to help homeowners or renters repair or replace disaster-damaged real estate and personal property, including automobiles.
Loans have a 4% interest rate with no payments due for the first 12 months, followed by a 30-year repayment plan.
While only loans are available right now, SBA explained that there is “hope for grants to open.”
For more information or to apply, visit sba.gov/funding-programs/disaster-assistance/california-wildfires. A link to the full workshop is available here.
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