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Nonprofits reminded to apply for SBA ice storm loans

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Nonprofits reminded to apply for SBA ice storm loans
Worthington Minnesota 300 11th Street / P.O. Box 639 56187

ATLANTA — The U.S. Small Business Administration reminds Private Non-Profit Organizations (PNPs) in Minnesota that Feb. 4 is the deadline to submit Economic Injury Disaster Loan applications. These loans are available from the SBA as a result of a severe winter storm on April 9-11, 2013, in Cottonwood, Jackson, Murray, Nobles and Rock counties.

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Examples of eligible non-critical PNP organizations include, but are not limited to, food kitchens, homeless shelters, museums, libraries, community centers and colleges.

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 and interest rate of 2.875 percent with terms up to 30 years. The SBA sets loan amounts and terms based on each applicant’s financial condition.

To apply online using the Electronic Loan Application (ELA), visit the SBA’s secure website at https://disasterloan.sba.gov/ela.

Disaster loan information and application forms may also be obtained by calling the SBA’s Customer Service Center at 1-800-659-2955 (1-800-877-8339 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/disaster. Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

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