ATLANTA –
The U.S. Small Business Administration followed FEMA and lengthened the incident period in
Mississippi
for the disaster declaration for private nonprofit organizations (PNPs) that do not provide critical services of a governmental nature, such as food kitchens, homeless shelters, museums, libraries, community centers, schools and colleges. This declaration covers PNPs with damages caused by severe storms, straight-line winds, tornadoes and flooding from Feb. 22 through Aug. 23, 2019.
PNPs located in the following counties are eligible to apply: Alcorn, Calhoun, Carroll, Chickasaw, Clay, Coahoma, Grenada, Humphreys, Issaquena, Itawamba, Lafayette, Lee, Leflore, Lowndes, Montgomery, Panola, Prentiss, Pontotoc, Quitman, Sharkey, Sunflower, Tallahatchie, Tishomingo, Union, Warren, Washington, Webster, Yalobusha and Yazoo in Mississippi.
Although the deadline to apply for a disaster loan for physical damages was
June 24, 2019,
PNPs may still submit an application after the deadline and should include an explanation that they were not previously aware of their eligibility for the SBA disaster loan program.
The SBA offers low interest disaster loans to Private NonProfit organizations for physical losses up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other business assets. The interest rate is 2.75 percent with terms up to 30 years. Applicants may be eligible for a loan amount increase up to 20 percent of their physical damages, as verified by the SBA for mitigation purposes. Eligible mitigation improvements may now include a safe room or storm shelter to help protect property and occupants from future damage caused by a similar disaster. To be considered for this assistance, PNPs need to apply by the deadline.
The SBA also offers Economic Injury Disaster Loans to help meet working capital needs, such as ongoing operating expenses to PNP organizations. Economic Injury Disaster Loan assistance is available regardless of whether the organization suffered any physical property damage.
Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at
DisasterLoan.sba.gov
.
Additional information on the SBA disaster loan program and application process can be obtained by calling 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
. Loan applications can be downloaded from
www.sba.gov
. Completed applications should be returned to a recovery center or mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
The filing deadline to submit applications for physical property damage expired on
June 24, 2019
.
The deadline to submit economic injury applications is
Jan. 23, 2020
.