Calling all private nonprofit entities who were affected by Typhoon Mangkhut, you may be eligible for a U.S. Small Business Administration federal disaster loan. However, you are urged to act now as the deadline is only a month away.
Director Tanya N. Garfield of the U.S. Small Business Administration’s Disaster Field Operations Center-West reminded Guam private nonprofit organizations of the July 1, 2019, deadline to apply for the SBA loan for economic injury.
Typhoon Mangkhut occurred around Sept. 10-11, 2018.
Private nonprofits that provide essential services of a governmental nature are eligible for assistance, according to Garfield.
Eligible applicants may apply for a loan of up to $2 million dollars with a 2.5 percent interest rate with terms up to 30 years.
However, loan amounts and terms are set by SBA and determined through evaluation of each applicant’s financial state, based on the injuries incurred during the typhoon.
According to a press release, the loan 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 private nonprofit suffered any property damage,” Garfield said.
Applicants may download their applications online or seek further assistance and information through their website at disasterloan.sba.gov/ela.
You may also call SBA’s Customer Service Center at 800-659-2955, or email disastercustomerservice@sba.gov. Deadline to apply is July 1st 2019.
