The U.S. Small Business Administration reminds certain Private, Non-Profit Organizations (PNPs) that do not provide critical services of a governmental nature of the deadline to submit disaster loan applications for economic injury caused by serve storm and flooding that occurred from September 6-7, 2008. The deadline to file an application for economic injury loan is July 3, 2009.
The SBA also announces that it has amended the disaster declaration to include Merrimack County, making SBA physical disaster loans available to eligible PNPs in Merrimack County. Affected PNPs in Merrimack County must file their application for physical damages as soon as possible.
Although the deadline to submit applications for physical damages expired on December 2, the SBA can accept late applications that meet the SBA’s late filing requirements. PNPs that wish to file a late application, including those from Merrimack County, must include an explanation of the substantial causes beyond their control that prohibited their filing an application by the December 2 deadline. The SBA will review the information and make a determination on the request for late filing.
PNP 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 also offers mitigation loans to disaster victims up to 20 percent of the verified physical damage. These funds are designed to help borrowers pay for protective measures to minimize damages of the same kind in the future.
PNPs located in Hillsborough and Merrimack counties in the State of New Hampshire are eligible to apply Economic Injury Disaster Loans from the SBA. Examples of eligible non-critical PNP organizations include, but are not limited to, food kitchens, homeless shelters, museums, libraries, community centers, schools and colleges.
For most PNP organizations of all sizes, the SBA offers Economic Injury Disaster Loans to help meet working capital needs, such as ongoing operating expenses. Economic Injury Disaster Loan assistance is available regardless of whether the business suffered any physical property damage.
Interest rates are as low as 4 percent with terms up to 30 years. Loan amounts and terms are set by the SBA and are based upon each applicant’s financial condition.
“PNP organizations are urged to contact their Island Emergency Managers to obtain information about local briefings. At the meeting, PNP representatives will provide information about their organization,” said Frank Skaggs, Director of SBA Field Operations Center East.
This information will be used to submit a “Request for Public Assistance” which FEMA uses to determine if the PNP provides an essential governmental service and meets the definition of a “critical facility.” Based upon that conclusion, FEMA will either refer the PNP to SBA for disaster loan assistance or possibly provide a “Public Assistance” reimbursement grant for eligible costs.
Disaster loan information and application forms may be obtained by calling the SBA’s Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the hearing-impaired) Monday through Friday from 8 a.m. to 9 p.m., and Saturday and Sunday 9 a.m. to 9 p.m. EST, or by emailing the SBA customer service center at disastercustomerservice@sba.gov, or writing to U.S. Small Business Administration, Disaster Assistance Customer Service Center, 130 South Elmwood Avenue, Buffalo, NY 14202-2463. Loan applications can be downloaded from the SBA’s website 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.
PNPs may visit SBA’s secure website at https://disasterloan.sba.gov/ela/ to apply for disaster loans.
The deadline to return economic injury applications is July 3, 2009.
For more information about the SBA’s Disaster Loan Programs, visit our website at www.sba.gov/services/disasterassistance
Release Number: 09-164, NH 11471
Contacts:
Michael Lampton, 404-331-0333
