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The following press release was issued by the SBA:
ATLANTA – The U.S. Small Business Administration is reminding Private NonProfit (PNP) organizations in Michigan of the May 2 deadline to submit Economic Injury Disaster Loan applications for damages caused by severe storms, flooding, landslides and mudslides on June 16-18, 2018.
Certain Private NonProfit organizations that do not provide critical services of a governmental nature may be eligible to apply for low-interest rate disaster loans.
Examples of eligible non-critical PNP organizations include, but are not limited to, food kitchens, homeless shelters, museums, libraries, community centers, schools and colleges.
PNPs located in the following counties are eligible to apply: Gogebic, Houghton and Menominee in Michigan.
The SBA offers Economic Injury Disaster Loans to help eligible non-critical PNP organizations meet their working capital needs such as ongoing operating expenses. This assistance is available regardless of whether the organization suffered any physical property damage.
Loan amounts can be up to $2 million with an interest rate of 2.5 percent and terms up to 30 years. The SBA sets loan amounts and terms based on each applicant’s financial condition.
To be considered for this assistance, PNPs need to apply by the deadline. Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at DisasterLoan.sba.gov. 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 the deaf and hard-of-hearing) or sending an email to disastercustomerservice@sba.gov. Loan 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 economic injury applications is May 2, 2019.
