SBA’s Deadline for Physical Damage Disaster Loans in Rhode Island for Private Non-Profit Organizations is June 7
ATLANTA – The U.S. Small Business Administration reminds eligible Private Non-Profit Organizations (PNPs) of the June 7 deadline to submit disaster loan applications for damages caused by severe storms and flooding that occurred on March 12 through April 12, 2010.
Private Non-Profit Organizations (PNPs) located in the counties of Bristol, Kent, Newport, Providence and Washington in Rhode Island are eligible for both Physical and Economic Injury Disaster Loans from the SBA. Eligible PNPs are those that provide non critical services such as: food kitchens, homeless shelters, museums, libraries, community centers, schools and colleges.
PNP organizations may borrow up to $2 million to repair or replace disaster 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 offers Economic Injury Disaster Loans to help meet working capital needs, such as ongoing operating expenses for PNP organizations. Economic Injury Disaster Loan assistance is available regardless of whether the business suffered any physical property damage.
Interest rates are as low as 3 percent with terms up to 30 years. Loan amounts and terms are set by the SBA and are based on each applicant’s financial condition.
Disaster loan information and application forms may be obtained by calling the SBA’s Disaster Assistance 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.; Saturday and Sunday from 9 a.m. to 5:30 p.m. EDT or by sending an email to firstname.lastname@example.org. Applications can also be downloaded from www.sba.gov/services/disasterassistance. Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
PNPs affected by the disaster may apply for disaster loans from SBA’s secure website at https://disasterloan.sba.gov/ela/.
The filing deadline to return applications for physical property damage is June 7, 2010. The deadline to return economic injury applications is January 4, 2011.
# # #
For more information about the SBA’s Disaster Loan Programs, visit our website at www.sba.gov/services/disasterassistance