Low-interest federal disaster loans are now available to certain private, nonprofit organizations in Weld County and seven other Colorado counties following the amendment to President Obama’s Sept. 24 major disaster declaration for Public Assistance.
The move was announced by Jeanne Hulit, Acting Administrator of the U.S. Small Business Administration. PNPs that provide essential services of a governmental nature are eligible for assistance.
In addition to Weld County, SBA disaster assistance is now available in Adams, Boulder, Clear Creek, El Paso, Jefferson, Larimer, Logan, Morgan and Washington counties.
PNP organizations should contact the Colorado Office of Emergency Management online at www.coemergency.com or contact Kenneth Brink at Kenneth.firstname.lastname@example.org to obtain information about local briefings.
“At the briefings, PNP representatives will need to provide information about their organization,” said Alfred E. Judd, Director of SBA’s Disaster Field Operations Center-West.
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 also offers Economic Injury Disaster Loans (EIDL) 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.
The interest rate is 2.875 percent with terms up to 30 years. The filing deadline to return applications for property damage is Nov. 25, 2013. The deadline to return economic injury applications is June 24, 2014.
Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure website 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 email@example.com.