SBA may lend PNPs up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory, and other business assets. SBA can also lend additional funds to help with the cost of making improvements that protect, prevent or minimize the same type of disaster damage from occurring in the future.
For certain private, nonprofit organizations of any size, SBA also offers Economic Injury Disaster Loans (EIDL) to help meet working capital needs caused by the disaster. EIDLs may be used to pay fixed debts, payroll, accounts payable and other bills that cannot be paid because of the disaster’s impact. EIDL assistance is available regardless of whether the PNP suffered any property damage. Interest rates are as low as 3 percent with terms up to 30 years.
Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure Web site at https://disasterloan.sba.gov/ela. Disaster loan information and application forms are available from SBA’s Customer Service Center by calling (800) 659‑2955, emailing [email protected], or visiting SBA’s Web site at www.sba.gov/services/disasterassistance. Individuals who are deaf or hard‑of‑hearing may call (800) 877-8339.
The filing deadline to return applications for property damage is May 4, 2012. The deadline to return economic injury applications is December 5, 2012.
For more information, visit SBA’s Web site at www.sba.gov.
SBA Field Operations Center – West, P.O. Box 419004, Sacramento, CA 95841