Red Lake Nation News - Babaamaajimowinan (Telling of news in different places)

SBA Deadline Approaching for Minnesota Private NonProfit Organizations To Apply for Working Capital Disaster Loans

 

October 1, 2019



ATLANTA – The U.S. Small Business Administration is reminding Private NonProfit (PNP) organizations in Saint Louis County, Minnesota of the Nov. 1, 2019 deadline to submit Economic Injury Disaster Loan applications for damages caused by severe storms and flooding on Oct. 9 - 11, 2018.

Certain Private NonProfit organizations that do not provide critical services of a governmental nature may be eligible to apply for low-interest rate disaster loans. Examples of eligible non-critical PNP 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 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 with an interest rate of 2.5 percent and terms up to 30 years. The SBA sets loan amounts and terms based on each applicant’s financial condition. To be considered for this assistance, PNPs need to apply by the deadline.

Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at DisasterLoan.sba.gov.

Disaster loan information and application forms may 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 sending an email to disastercustomerservice@sba.gov. Loan applications can also be downloaded from http://www.sba.gov.

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 Nov. 1, 2019.

About the U.S. Small Business Administration

The U.S. Small Business Administration makes the American dream of business ownership a reality. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit http://www.sba.gov.

 

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