Deadline looms for disaster assistance from SBA
by MBJ Staff
Published: October 21,2013
Tags: bank, banking, disaster recovery, Economic Injury Disaster Loan, emergency, emergency loan, flood, loan, natural disaster, non-profit organization, nonprofit, storm, tornado, U.S. Small Business Administration, Weather
SOUTH MISSISSIPPI — The U.S. Small Business Administration is reminding private non-profit organizations (PNPs) in Mississippi that Nov. 19 is the deadline to submit Economic Injury Disaster Loan applications.
These loans are available from the SBA for damages caused by severe storms, tornadoes and flooding that began on Feb. 10, 2013.
PNPs located in the following counties that provide non-critical services are eligible to apply: Forrest, Lamar, Marion and Wayne.
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 interest rate of 2.875 percent with terms up to 30 years. The SBA sets loan amounts and terms based on each applicant’s financial condition.
To apply online using the Electronic Loan Application (ELA), visit the SBA’s secure website at 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 sending an email to email@example.com. Loan applications can also be downloaded from www.sba.gov/disaster. Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road,
Fort Worth, TX 76155.
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