Emergency loan deadline nearing for victims of Feb. 10 storm

SOUTH MISSISSIPPI — The U.S. Small Business Administration is reminding eligible private non-profit (PNP) organizations in Mississippi of the April 22 deadline to submit disaster loan applications for damages caused by severe storms, tornadoes and flooding that began Feb. 10.

The SBA offers low interest disaster loans to private non-profit organizations for physical losses up to its loan limits.  Loan amounts can be up to $2 million, and the interest rate is 2.875 percent with terms up to 30 years. The SBA sets loan amounts and terms based on each applicant’s financial condition. Approved loans can be increased for protective measures to lessen similar future damages. Additionally, PNPs can obtain loans for unmet working capital needs. To be considered for this assistance, PNPs need to apply by the deadline.

These loans are available to PNPs located in Forrest, Lamar, Marion and Wayne counties. Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at https://disasterloan.sba.gov/ela.

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

The filing deadline to return applications for physical property damage is April 22. The deadline to return economic injury applications is Nov. 19.

 

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