SBA Disaster Loans

The U.S. Small Business Administration (SBA) warns of the upcoming Friday April 29, 2016 loan deadline for private nonprofit organizations in Addison County that provide noncritical services to apply for economic injury disaster loans. These loans are for damages caused by the severe storm and flooding on June 9, 2015. Examples of eligible noncritical private nonprofit organizations include food kitchens, homeless shelters, museums, libraries, community centers, schools and colleges. The SBA offers economic injury disaster loans to help eligible noncritical organizations meet 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 2.625 percent and terms up to 30 years. The SBA sets loan amounts and terms based on each applicant’s financial condition. Applicants may apply online using the electronic loan application 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 by sending an email to disastercustomerservice@sba.gov. Applications can also be downloaded from the SBA’s website at 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