Deadline approaching for private nonprofit organizations to apply for Economic Injury Disaster Loans

PRIVATE NONPROFIT organizations in Rhode Island have until Jan. 4 to submit low-interest Economic Injury Disaster Loan applications for damages caused by winter storms Jan. 26 to 28, according to the U.S. Small Business Administration.
PRIVATE NONPROFIT organizations in Rhode Island have until Jan. 4 to submit low-interest Economic Injury Disaster Loan applications for damages caused by winter storms Jan. 26 to 28, according to the U.S. Small Business Administration.

PROVIDENCE – Private nonprofit organizations in Rhode Island have until Jan. 4 to submit low-interest Economic Injury Disaster Loan applications for damages caused by winter storms Jan. 26 to 28, according to the U.S. Small Business Administration.

Private nonprofit organizations that provide non-critical services in Bristol, Kent, Newport, Providence and Washington counties can apply.

Examples of eligible non-critical private nonprofit organizations include, but are not limited to, food kitchens, homeless shelters, museums, libraries, community centers, schools and colleges.

The SBA offers Economic Injury Disaster Loans to help organizations meet working capital needs such as ongoing operating expenses. Assistance is available regardless of whether the organization sustained physical property damage, and loan amounts can be up to $2 million with an interest rate of 2.625 percent and terms up to 30 years.
Loan amounts and terms are based on each applicant’s financial condition, according to the SBA.

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Applicants may apply online using the Electronic Loan Application at https://disasterloan.sba.gov/ela.
Disaster loan information and application forms also can be obtained by calling the SBA’s Customer Service Center at 800-659-2955 (800-877-8339 for the deaf and hard-of-hearing) or by sending an email to disastercustomerservice@sba.gov.

Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, Texas, 76155.

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