SBA Disaster Loans Available to Private Nonprofits
As a result of the federal disaster declaration for damages suffered in the December 22-24, 2022
storm, the U.S. Small Business Administration (SBA) will now offer certain Private Non-Profit organizations (PNPs) in Vermont that do not provide critical services of a governmental nature may be eligible to apply for low-interest disaster loans for damages suffered in that storm.
Eligible PNP organizations in the following Vermont counties may apply: Chittenden, Essex,
Franklin, Grand Isle, Lamoille, Orange, Orleans and Washington.
Examples of eligible non-critical PNP organizations include, but are not limited to, food
kitchens, homeless shelters, museums, libraries, community centers, schools and colleges.
PNP organizations may borrow up to $2 million to repair or replace damaged or destroyed real
estate, machinery and equipment, inventory, and other business assets. The interest rate is 2.375 percent, with terms up to 30 years.
Applicants may be eligible for a loan amount increase of up to 20 percent of their physical
damages, as verified by the SBA, for mitigation purposes. Eligible mitigation improvements might include insulating pipes, walls, and attics; weather stripping doors and windows; and installing storm windows to help protect property and occupants from future damage caused by a similar disaster.
Disaster loan information and application forms may also be obtained by calling the SBA’s
Customer Service Center at 800-659-2955 (if you are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services), or by sending an email to DisasterCustomerService@sba.gov. Loan applications can be downloaded from the SBA’s website at sba.gov/disaster.
The filing deadline to submit applications for physical property damage is May 19, 2023.
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