The U.S. Small Business Administration is providing low-interest loans of up to $2 million to private nonprofit organizations in Brunswick, Carteret, Craven, Currituck, Dare, Duplin, Hyde, Jones, New Hanover, Pamlico, Pender, Sampson, Tyrrell, and Washington counties.
“Food kitchen, homeless shelters, museums, libraries, community centers, schools and colleges are the types of entities that can apply,” said Mark Ihenacho, lead public affairs specialist with the SBA. “The interest rate on the disaster loans is 2.75% with terms up to 30 years."
Eligible organizations can apply for loans to repair or replace damaged or destroyed property, machinery and equipment, inventory, and other business assets. The deadline for nonprofits to submit applications to the SBA is December 3, 2019.
“The most important thing that we want everybody to do if they are operating as a nonprofit organization is to reach out to their county’s emergency manager and provide that information to start the process,” said Ihenacho.
According to a news release, the SBA also offers Economic Injury Disaster Loans to help meet working capital needs, such as ongoing operating expenses to private nonprofit organizations. The deadline to submit economic injury applications is July 6, 2020.
The Electronic Loan Application is available at DisasterLoan.sba.gov. 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-ofhearing) or sending an email to firstname.lastname@example.org.