PICO RIVERA (CBSLA) – Victims of the massive February apartment blaze in Pico Rivera — which left about 300 people temporarily homeless — will be eligible to receive federal aid beginning this week.
The U.S. Small Business Administration announced that, starting Thursday, residents and businesses effected by the Corsica apartment fire can apply for disaster loan relief. This action comes after the SBA issued a disaster declaration for the fire on Tuesday.
The raging 3-alarm blaze which broke out on the afternoon of Feb. 22 at the Corsica Apartment Homes in the 9100 block of Burke Street displaced about 300 people and many pets and caused minor injuries to a firefighter and two civilians.
The fire, which was battled by hundreds of firefighters for hours, effected more than 141 apartment units, 45 of them with fire and smoke damage. It was most likely caused by plumbing work, Los Angeles County Sheriff’s officials said.
There are two types of low-interest loans available to businesses, Business Physical Disaster Loans and Economic Injury Disaster Loans. There is one type available to renters or homeowners: the Home Disaster Loan. Interest rates range anywhere from 1.8 to 7.1 percent.
Businesses may borrow up to $2 million to repair or replace damaged assets, while homeowners can borrow up to $200,000. Renters can borrow up to $40,000 to replace or repair damaged property.
For more information on applying for a loan, click here, or visit the Disaster Loan Outreach Center at Pico Rivera City Hall at 6615 Passons Blvd. The center will be open from 8 a.m. to 5 p.m. Monday through Friday until April 19. You can also call SBA at 800-659-2955.
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