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SBA’s Deadline For Physical Damage Disaster Loans For Private Non-Profit Organizations Is May 28
ATLANTA – The U.S. Small Business Administration reminds eligible Private Non-Profit Organizations (PNPs) of the May 28, 2010 deadline to submit disaster loan applications for physical damages caused by severe winter storms that occurred from Feb. 23 through March 3, 2010.
Private Non-Profit Organizations (PNPs) located in Grafton, Hillsborough, Merrimack, Rockingham, Strafford and Sullivan counties in New Hampshire 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.
PNPs 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 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. The SBA sets 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 Disaster Assistance Customer Service Center at 1-800-659-2955 (800-877-8339 for people with speech or hearing disabilities), Monday through Friday from 8 a.m. to 6 p.m., and Saturday, 9 a.m. to 5:30 p.m. EDT, or by sending an email to firstname.lastname@example.org.
Applications are also available at 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.
Those 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 May 28, 2010. The deadline to return economic injury applications is Dec. 29, 2010.