Private nonprofit organizations in Wilson and 48 other North Carolina counties have until Aug. 10 to apply for economic injury disaster loans from the U.S. Small Business Administration.
The low-interest loans can help nonprofits recover from Hurricane Matthew in October 2016.
Assistance is available for nonprofits that provide what the SBA calls “non-critical services” in 49 counties that received a federal disaster declaration for Hurricane Matthew. Eligible areas include Wilson, Nash, Edgecombe, Greene, Wayne, Johnston, Lenior, Pitt and Wake counties.
Examples of eligible “non-critical” organizations include, but are not limited to, food kitchens, homeless shelters, museums, libraries, community centers, schools and colleges, according to the Small Business Administration.
The SBA offers economic injury disaster loans to help eligible groups 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 via 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 800-659-2955 (800-877-8339 for the deaf and hard-of-hearing) or by sending an email to firstname.lastname@example.org.
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.
The deadline to return economic injury applications is Aug. 10.