Sussex nonprofits affected by January flooding eligible for SBA loans

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sbaThe Business Administration announced that Private NonProfit organizations in Delaware of the Dec. 16 deadline to submit Economic Injury Disaster Loan applications for losses caused by severe storms and flooding that occurred on  Jan. 22 -23, 2016.

Nonprofits that provide non-critical services located in Sussex County are eligible to apply to SBA.  Examples of eligible non-critical organizations include, but are not limited to food kitchens, homeless shelters, museums, libraries, community centers, schools, and colleges.

The SBA offers Economic Injury Disaster Loans to help eligible non-critical nonprofits 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 2.625 percent and terms up to 30 years. The SBA sets loan amounts and terms based on each applicant’s financial condition.

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Applicants may apply online using the Electronic Loan Application (ELA) via 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 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.

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