NEW MEXICO (KRQE) – The United States Small Business Administration has approved over $5 million in disaster assistance loans for New Mexico residents and businesses affected by wildfires. According to the SBA they have approved over $500,000 for businesses and just under $5 million for residents.

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Residents and businesses in Lincoln, Colfax, San Miguel, Mora and Valencia counties who were affected by the fires are encouraged to register. “SBA’s disaster assistance employees are committed to helping businesses and residents rebuild as quickly as possible,” said Director of SBA Disaster Field Operations Center-West Tanya N. Garfield said in a statement.

According to a release sent out by the SBA, businesses and private nonprofit organizations can borrow up to $2 million to replace or repair any damaged real estate, equipment or other business assets. They say funds can also be lent to businesses or residents to make improvements that might protect or prevent damage from future wildfires.

Any resident or business registering for the loans needs to register before August 4. You can register at www.disasterassistance.gov.