SBA approves state request for disaster assistance loans after ‘Aspen Acres’ fire for Pueblo & Custer County residents

STATEWIDE, Colo. (KRDO) -- The Small Business Administration (SBA) has approved the state's request for disaster assistance loans after the "Aspen Acres" fire.

The loans are also approved to assist with the burn scar flooding that happened after the fire in Pueblo and Custer counties. State officials say the loans will help provide homeowners, renters, businesses, and non-profits for uninsured losses and damages.

Gov. Jared Polis announced the loan approval on Friday, after it was requested on October 9.

"Coloradans recovering from the Aspen Acres Fire deserve every opportunity to rebuild and bounce back. Colorado moved quickly to secure this assistance, and now families and businesses can apply for low-interest loans to repair homes, replace belongings, and reopen doors. I encourage affected Coloradans to explore these resources and get the support needed to move forward," Gov. Jared Polis said in a press release.

According to officials, the SBA disaster assistance includes:

• Business Physical Disaster Loans: Loans to help repair or replace damaged property owned by the business. This includes real estate, supplies, equipment, etc.
• Economic Injury Disaster Loans: Working capital loans that will help small businesses, small agricultural co-ops, most private non-profits and small businesses in aquaculture help meet "ordinary and necessary financial obligations" that can't be met because of the fire.
• Home Disaster Loans: Loans for homeowners and renters to help repair or replace damaged real estate and property. This includes vehicles.
• Mitigation Improvements: The SBA says when a loan is approved, additional funds may be available to help cover improvements for the property to protect it against future damages.

State officials say eligible homeowners can apply now for up to $500,000 to repair or replace verified uninsured home damages. They can also request up to $100,000 for damaged belongings. Businesses can request up to $2 million to repair or replace damaged property, machinery and other related expenses.

The Disaster Loan Assistance Centers will open for Pueblo and Custer County residents on October 19. There are also two SBA Disaster Loan Outreach Centers that will be open for residents who have questions.

The Pueblo County location is located at 201 West 8th Street in Pueblo. The Custer County location is at 95 County Road 393 in Wetmore, at the junction of Highway 67 and Highway 96.

There are also Economic Disaster Injury Loans available in surrounding counties, including El Paso and Fremont County.

More information is available on the SBA's disaster assistance webpage.

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