Deadline nears for hurricane damage loans
Published 3:45 pm, Wednesday, July 31, 2013
The deadline for private, nonprofit organizations in the state to submit economic injury disaster loan applications will be Aug. 23.
The loans are available from the U.S. Small Business Administration for damages caused by Hurricane Sandy between Oct. 27 and Nov. 8, 2012.
Private, nonprofits (PNP) in these counties that provide non-critical services are eligible to apply: Fairfield, Litchfield, Middlesex, New Haven, New London, Tolland, Windham.
The Mashantucket Pequot Tribal Nation and Mohegan Tribal Nation are located within New London County.
Examples of eligible non-critical PNP organizations include, but are not limited to, food kitchens, homeless shelters, museums, libraries, community centers and colleges.
The SBA offers such loans to help meet working capital needs such as ongoing operating expenses for eligible non-critical PNP organizations.
The assistance is available regardless of whether the organization suffered any physical property damage.
Loan amounts can be up to $2 million and interest rate of 3 percent with terms up to 30 years.
The SBA sets loan amounts and terms based on each applicant's financial condition.
To apply online using the Electronic Loan Application (ELA), visit the SBA's secure website at https://disasterloan.sba.gov/ela.
Disaster loan information and application forms may also be obtained by calling 800-659-2955 (800-877-8339 for the deaf and hard of hearing) or sending an email to email@example.com.
Loan applications can also be downloaded from www.sba.gov/disaster.
Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.