MONTEREY PARK, Calif. – The U.S. Small Business Administration will open a Business Recovery Center in Monterey Park next week, offering various services to businesses that were impacted by the January mass shooting in the city and subsequent investigation.
“Due to the severe economic losses inflicted on California businesses, we want to provide every available service to help get them back on their feet,” Tanya N. Garfield of the SBA’s Disaster Field Operations Center-West said in a statement. “The center will provide a one-stop location for businesses to access a variety of specialized help. SBA customer service representatives will be available to meet individually with each business owner.”
All services will be provided free of charge and no appointments will be needed.
The center will open Monday and remain in operation until June 15 at the Barnes Park Service Club House, 440 S. McPherrin Ave. It will be open from 11 a.m. to 7 p.m. Monday through Thursday.
In April, authorities announced that businesses financially impacted by the shooting and investigation can apply for low-interest SBA loans of up to $2 million.
According to the SBA, the loans have an interest rate of 3.305 for small businesses and 2.375 for nonprofit groups, with terms up to 30 years. Loans can be used to pay off fixed debts, cover payroll or other bills that can’t be paid.
Eleven people died when a gunman opened fire Jan. 21 at the Star Ballroom Dance Studio in Monterey Park. After that shooting, the gunman went to the Lai Lai Ballroom and Studio in Alhambra, but he was disarmed in the lobby by an employee.
The gunman died of a self-inflicted gunshot wound the following day following a standoff with law enforcement in Torrance.