ATLANTA – The U.S. Small Business Administration adds Yabucoa municipality as an eligible area for disaster assistance. Private Non-Profit Organizations may apply for disaster damage assistance caused by severe storms, flooding, mudslides and landslides that occurred from May 20 through June 8, 2011 in Puerto Rico. The deadline to return applications for physical property damage is September 12, 2011.
Private Non-Profit’s located in the municipalities of Anasco, Caguas, Camuy, Ciales, Hatillo, Las Piedras, Morovis, Orocovis, San Lorenzo, San Sebastian, Utuado, Villalba and Yabucoa in Puerto Rico are eligible to apply to SBA. Examples of eligible non-critical Private Non-Profit Organizations include, but are not limited to, food kitchens, homeless shelters, museums, libraries, community centers, schools and colleges.
Private Non-Profit Organizations may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other business assets. The SBA may increase a loan up to 20 percent of the total amount of disaster damage to real estate and/or leasehold improvements, as verified by SBA, to make improvements that lessen the risk of property damage by future disasters of the same kind.
The SBA also offers Economic Injury Disaster Loans to help meet working capital needs, such as ongoing operating expenses to Private Non-Profit Organizations of all sizes. Economic Injury Disaster Loan assistance is available regardless of whether the organization suffered any physical property damage.
Interest rates are as low as 3 percent with terms up to 30 years. The SBA sets the loan amounts and terms based on each applicant’s financial condition.
Disaster loan information and application forms may be obtained by calling the SBA’s Customer Service Center at 800-659-2955 (800-877-8339 for people with speech or hearing disabilities) Monday through Friday from 8 a.m. to 6 p.m. ET or by sending an e-mail to firstname.lastname@example.org. 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, Fort Worth, TX 76155.
The deadline to return applications for physical property damage is September 12, 2011. The deadline to return applications for economic injury is April 16, 2012.
For more information about the SBA’s Disaster Loan Programs, visit our website at www.sba.gov