The Hermit’s Peak/Calf Canyon Claims Office (Claims Office) has coordinated with the U.S. Small Business Administration (SBA) to repay low interest disaster loans that were taken as a result of the Hermit’s Peak/Calf Canyon fire. The Claim’s Office will reimburse claimants/borrowers in San Miguel and Mora Counties for SBA disaster loans, as well as interest accrued on those loans, for damages resulting from the fire. If a claimant/borrower took out an SBA disaster loan as a result of the Hermit’s Peak/Calf Canyon fire, they will be contacted by the SBA call center regarding this partnership and the opportunity to have their loans paid off.
How the Partnership Works and How It Will Benefit Claimants/Borrowers
The Claims Office partnership with the SBA offers claimants/borrowers the opportunity to have their SBA loans and accrued interest compensated for, and their loans paid off. There are two options available for loan repayment through the Claims Office.
Option One: Claimants/Borrowers can authorize the Claims Office to pay SBA directly. This option is fast, easy and completed via electronic transfer between the Claims Office and the SBA. The Claims Office will include any interest accrued during the life of the loan. If selecting this option, claimants/borrowers will not have to calculate any additional accrued interest and the loan will be paid off in its entirety by the Claims Office on the claimant’s/borrower’s behalf. Any interest that has already been paid on the loan will also be compensated to the claimant/borrower.
Option Two: The claimant/borrower may request that the Claims Office compensate the claimant/borrower directly for their SBA loan. This option requires the claimant/borrower to then pay off the loan, including interest, to the SBA. Interest will continue to accrue until the loan is paid off, but the Claims Office can only reimburse interest accrued from the date the loan was taken out until the date when the claimant/borrower receives compensation from the Claims Office. In the event a claimant/borrower does not repay their loan immediately they are responsible for accrued interest thereafter.
The unique nature of the SBA loan reimbursement program requires claimants/borrowers to use their compensation award to repay their SBA loan in full.
For the latest information on SBA programs, visit sba.gov. For assistance with SBA Disaster Assistance, visit sba.gov/funding-programs/disaster-assistance or call 800-659-2955 or email disastercustomerservice@sba.gov.
For the latest information on the Claims Office, visit fema.gov/hermits-peak (for Spanish, visit fema.gov/es/hermits-peak) or on Facebook at facebook.com/HermitsPeakCalfCanyonClaimsOffice/. For Media inquiries call the Claims Office News Desk at 505-995-7035 or email us at ClaimsOffice@fema.dhs.gov. The Claims Office reminds Claimants and interested parties that they may call the Claims Helpline at 505-995-7133 between the hours of 10am – 6pm Mountain Time, Monday – Thursday to speak to a Claims Office team member. Claimants can also email the Claims Office at ClaimsOffice@fema.dhs.gov.