The Small Enterprise Administration (SBA) has issued a reminder to non-public nonprofit organizations in Montana in regards to the upcoming deadline to use for federal catastrophe loans for financial harm brought on by flooding from June 1-8, 2023. The deadline to use is July 11, 2024. This discover was given by Francisco Sánchez Jr., affiliate administrator for the Workplace of Catastrophe Restoration and Resilience on the SBA. Non-public nonprofits that present important governmental companies are eligible for this help.
Sánchez acknowledged that eligible personal nonprofits of any dimension might apply for SBA Financial Harm Catastrophe Loans of as much as $2 million. These loans purpose to satisfy working capital wants brought on by the catastrophe. “Financial Harm Catastrophe Loans could also be used to pay fastened money owed, payroll, accounts payable and different payments that can’t be paid due to the catastrophe’s affect. Financial harm help is accessible no matter whether or not the personal nonprofit suffered any property harm,” Sánchez mentioned.
These low-interest federal catastrophe loans can be found within the following counties: Carbon, Daniels, Fergus, Garfield, Golden Valley, Musselshell, Petroleum, Phillips, Stillwater, and Treasure. The rate of interest is 2.375% with phrases as much as 30 years. Mortgage quantities and phrases are decided by the SBA primarily based on every applicant’s monetary situation.
Curiosity doesn’t start to accrue till 12 months from the date of the primary mortgage disbursement. Compensation of SBA catastrophe loans begins 12 months from the date of the primary disbursement.
Candidates can apply on-line and obtain further catastrophe help info at SBA.gov/catastrophe. They could additionally name SBA’s Buyer Service Heart at (800) 659-2955 or e-mail disastercustomerservice@sba.gov for extra info on SBA catastrophe help. For people who find themselves deaf, onerous of listening to, or have a speech incapacity, please dial 7-1-1 to entry telecommunications relay companies.
The SBA encourages all eligible personal nonprofits to use as quickly as potential to make sure they obtain the mandatory monetary help. This monetary assist could be essential in serving to organizations get well from the financial affect of the flooding and proceed offering important companies to their communities. The SBA stays dedicated to supporting catastrophe restoration efforts and serving to communities rebuild and get well.
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