Chamber Helps Bring SBA Loan Relief Following Eagle Creek Fire

November 01, 2017
Good News – the federal SBA loan program is in effect – now accepting business and nonprofit organizations’ loan applications for Eagle Creek Fire impacts (lost revenue – not damages.) SBA is accepting applications now through July 2018.
 
At the request of Hood River County Sheriff’s Office of Emergency Management, Wasco County Emergency Management, Oregon Office of Emergency Management (OEM) and other supporters, Governor Brown wrote a letter to SBA seeking activation of the economic injury loan program. The request was approved quickly and I just sent an email to the businesses that had helped us qualify locally.
 
Hood River County received 14 worksheets (threshold is 5) from Hood River and Cascade Locks businesses to qualify our county for the program. The 14 SBA worksheets from small businesses said they cumulatively lost $215,746 in revenue for the three weeks of the Eagle Creek Fire. They also cited long term impacts of this wildfire during peak tourism season, complicated by long term I-84 closures, negative media attention and heavy smoky air that deterred visitation and normal business activity.
 
Wasco Co. also submitted several worksheets and all of our adjacent counties also benefit from access to this disaster loan program  if they now choose to apply.
 
Our County was pleased to be able to help bring this important program to help with economic recovery from the Eagle Creek Fire – we are fortunate to have such healthy support of our State and Federal partners. Also notable is CGCC’s additional help to businesses through its small business center.
 
SBA offers long term (up to 30 years) low interest (2.5 – 3.3%) loans to help businesses that lost revenue in the Eagle Creek Fire.