Deadline nearing for SBA disaster recovery loans

by MBJ Staff

Published: January 5,2012

Tags: disaster, disaster recovery, flooding, hail, natural disaster, non-profit organizations, nonprofits, rain, severe weather, small businesses, storms, tornadoes, Weather, wind

ACROSS MISSISSIPPI — The U.S. Small Business Administration reminds private non-profit organizations (PNPs) in Mississippi that Jan. 30 is the deadline to submit Economic Injury Disaster Loan applications. The loans are available from the SBA because of the severe storms, tornadoes, high winds and flooding that occurred on April 15–28, 2011.

Eligible non-critical PNPs located in Alcorn, Attala, Chickasaw, Choctaw, Clarke, Clay, Desoto, Greene, Hinds, Holmes, Jasper, Kemper, Lafayette, Marshall, Monroe, Montgomery, Neshoba, Newton, Panola, Quitman, Smith, Tishomingo, Tunica, Webster, Winston, Benton, Calhoun, Carroll, Itawamba, Lee, Noxubee, Prentiss, Scott, Tate, Tippah and Union counties in Mississippi are eligible to apply to the SBA. Examples of eligible non-critical PNP organizations include, but are not limited to, food kitchens, homeless shelters, museums, libraries, community centers and colleges.

The SBA offers Economic Injury Disaster Loans to help meet working capital needs such as ongoing operating expenses for eligible non-critical PNP organizations. This assistance is available regardless of whether the organization suffered any physical property damage. Loan amounts can be up to $2 million, and the interest rate is 3 percent with terms up to 30 years. The SBA sets loan amounts and terms based on each applicant’s financial condition.

To obtain disaster loan information and application forms, call the SBA’s Customer Service Center at 800-659-2955 (800-877-8339 for the deaf and hard-of-hearing) or send an email to disastercustomerservice@sba.gov. Applications can also be downloaded from www.sba.gov. Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Forth Worth, TX 76155.

PNPs affected by the disaster may also apply for disaster loans electronically from SBA’s website at https://disasterloan.sba.gov/ela/.

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