Search Results for keywords:"wildfires and straight-line winds"

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Search Results: keywords:"wildfires and straight-line winds"

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  • 2025-03943 — Presidential Declaration Amendment of a Major Disaster for the State of California
    Type:Notice
    Citation:90 FR 11867
    Reading Time:less than a minute

    The U.S. Small Business Administration has issued a notice amending the Presidential disaster declaration for California due to wildfires and straight-line winds, initially declared on January 8, 2025. This amendment extends the deadline for filing applications for physical damage loans to March 31, 2025, while the deadline for Economic Injury Disaster Loans (EIDL) is set for October 8, 2025. Those affected can apply for disaster assistance loans online via the MySBA Loan Portal. All other details from the original declaration remain unchanged.

    Simple Explanation

    The U.S. Small Business Administration is updating how long people have to ask for help after fires and strong winds hit California, giving them more time to apply for certain kinds of help. People can now ask for a type of help until the end of March 2025, while another kind of help can be asked for until October 2025, and they can do this online.

  • 2025-06748 — Temporary Exceptions to FIRREA Appraisal Requirements in Los Angeles County as Affected by California Wildfires and Straight-Line Winds
    Type:Rule
    Citation:90 FR 16455
    Reading Time:about 6 minutes

    The Depository Institutions Disaster Relief Act of 1992 (DIDRA) allows agencies to temporarily suspend some appraisal requirements under the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA) for real estate transactions in disaster areas. Following the President's declaration of a major disaster in Los Angeles County, California due to wildfires and straight-line winds starting January 7, 2025, these exceptions have been granted for affected real estate transactions until January 8, 2028. The exceptions aim to facilitate recovery and are consistent with safe banking practices, as long as certain conditions are met, like having a commitment to fund transactions and ensuring the property's value is supportive.

    Simple Explanation

    When big fires and strong winds hit Los Angeles, special rules were made so banks could help people buy and sell houses there without waiting too long for paperwork. This helps everyone get back on their feet faster, just like when you quickly fix your toys after a storm so you can play again.

  • 2025-02950 — Presidential Declaration Amendment of a Major Disaster for Public Assistance Only for the State of California
    Type:Notice
    Citation:90 FR 10563
    Reading Time:about a minute or two

    The U.S. Small Business Administration (SBA) has announced an amendment to a previous declaration by the President related to a major disaster in California, specifically for public assistance due to wildfires and straight-line winds. The incident period for these natural disasters is updated to January 7, 2025, through January 31, 2025. Residents and businesses affected by these events can apply for physical damage loans until March 17, 2025, and for economic injury loans until October 15, 2025. More information and loan applications are available on the SBA’s lending website.

    Simple Explanation

    The President made changes to a previous announcement to help California after bad fires and strong winds. People and businesses affected can ask for help fixing damage until March 17, 2025, and for other financial help until October 15, 2025, on the SBA's website.

  • 2025-02951 — Presidential Declaration Amendment of a Major Disaster for the State of California
    Type:Notice
    Citation:90 FR 10563
    Reading Time:less than a minute

    The U.S. Small Business Administration issued an amendment to the Presidential declaration of a major disaster for California due to wildfires and straight-line winds. This amendment updates the incident period to January 7, 2025, through January 31, 2025, while leaving all other details unchanged. For those affected, the deadline to apply for physical loan assistance is March 10, 2025, and for economic injury loans, the deadline is October 8, 2025. Applicants can visit the MySBA Loan Portal for disaster assistance loan applications.

    Simple Explanation

    The U.S. President said a big problem in California called a disaster happened because of fires and strong winds. This message says when this problem started and ended, and people can ask for help with loans if their homes or businesses were hurt.