GOODING — Small Business Administration disaster assistance is now available to Blaine, Camas, Custer, Elmore and Gooding counties, following a presidential federal disaster declaration for extreme spring flooding. These low-interest loans are for Idaho private nonprofit organizations that provide essential governmental services.
The SBA may lend private nonprofits up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other business assets. They can also lend additional funds to help with the cost of improvements to protect, prevent or minimize the same type of future damage. The SBA may offer Economic Injury Disaster Loans to help with meeting working capital needs caused by the disaster – paying fixed debts, payroll, accounts payable and other bills. Economic Injury assistance will be available regardless of whether the nonprofit suffered any property damage. The interest rate is 2.5 percent with terms up to 30 years.
Contact Public Affairs Officer Elizabeth Duncan of the Idaho Office of Emergency Management at 208-258-6595 or email@example.com to obtain information about applicant briefings.
“At the briefings, private nonprofit representatives will need to provide information about their organization,” Director Tanya Garfield of SBA’s Disaster Field Operations Center-West said in a statement.
The Federal Emergency Management Agency will use that information to determine if the private nonprofit provides an “essential governmental service” and is a “critical facility,” as defined by law.
If so, the nonprofit may receive a grant from FEMA. If not, FEMA may refer the private nonprofit to SBA for disaster loan assistance.
Apply online, download applications or receive additional information at disasterloan.sba.gov/ela. The filing deadline for property damage is Oct. 26. The deadline to return economic injury applications is May 23, 2018. Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Rd., Fort Worth, TX 76155.