SBA Disaster Assistance Available to Iowa
Small Business are now available to certain private, nonprofit organizations.
Private, Nonprofit Organizations
SACRAMENTO, Calif. – Low-interest federal disaster loans are now available to certain private, nonprofit organizations (PNPs) in Iowa, following President Obama’s federal disaster declaration for Public Assistance (PA) as a result of severe storms, tornadoes, straight-line winds and flooding that occurred from June 26 – July 7, 2014, announced Maria Contreras-Sweet, Administrator of the U.S. Small Business Administration (SBA). PNPs that provide essential services of a governmental nature are eligible for assistance.
SBA disaster assistance is now available in the Iowa counties of Audubon, Black Hawk, Butler, Cedar, Des Moines, Grundy, Hamilton, Hardin, Ida, Iowa, Jackson, Jasper, Johnson, Jones, Keokuk, Lee, Linn, Mahaska, Muscatine, Poweshiek, Tama and Washington.
“PNP organizations should contact the HSEMD Public Information Officer at (515) 725-3231 or via email at HSEMDPIO@iowa.gov to obtain information about local briefings,” said Tanya N. Garfield, Director of SBA’s Disaster Field Operations Center-West. “At the briefings, PNP representatives will need to provide information about their organization,” continued Garfield. FEMA will use that information to determine if the PNP provides an “essential governmental service” and is a “critical facility” as defined by law. If so, FEMA may provide the PNP with a Public Assistance grant for their eligible costs. If not, FEMA may refer the PNP to SBA for disaster loan assistance.
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 offers Economic Injury Disaster Loans (EIDLs) 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 nonprofit suffered any property damage.
The interest rate is 2.625 percent with terms up to 30 years. The filing deadline to return applications for property damage is October 6, 2014. The deadline to return economic injury applications is May 5, 2015.
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 also available from SBA’s Customer Service Center by calling (800) 659-2955 or e-mailing disastercustomerservice@sba.gov. Individuals who are deaf or hard‑of‑hearing may call (800) 877-8339. For more information about SBA’s disaster assistance programs, visit http://www.sba.gov/disaster.
