LINCOLN – Following a Federal Disaster Declaration for Public Assistance by President Trump, certain private nonprofit organizations in Nebraska will be offered low-interest federal disaster loans.
According to a release from the U.S. Small Business Administration (SBA), the released information was issued Wednesday. The Public Assistance is due to the result of severe storms, tornadoes, straight-line winds and flooding that occurred June 17 – July 1, 2018. Private nonprofits that provide essential services of a government nature are eligible for assistance.
These low-interest federal disaster loans are available in Cedar, Colfax, Cuming, Dakota, Dixon, Harlan, Logan, Thomas, Thurston and Wayne counties.
Up to $2 million may be awarded to private nonprofits from the SBA to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other business assets. SBA can also assist with additional funds to help with the cost of improvements to protect, prevent or minimize the same type of disaster damage from occurring in the future.
For certain private nonprofit organizations of any size, SBA offers Economic Injury Disaster Loans to help with meeting working capital needs caused by the disaster. Economic Injury Disaster Loans may be used to pay fixed debts, payroll, accounts payable and other bills that cannot be paid because of the disaster’s impact. Economic injury assistance is available regardless of whether the nonprofit suffered any property damage.
The interest rate is 2.5 percent with terms up to 30 years with a deadline to apply for property damage being October 26, 2018. The deadline to apply for economic injury is May 27, 2019.
Applicants may apply online, receive additional disaster assistance information and download applications at https://disasterloan.sba.gov/ela. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email firstname.lastname@example.org for more information on SBA disaster assistance. Individuals who are deaf or hard‑of‑hearing may call (800) 877-8339. Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.