Disaster Recovery Loans Available for So. Tier Non-Profits
Some organizations in Chenango and Tioga Counties may be eligible for low-interest loans to cover damages from the remnants of Tropical Storm Fred.
The U.S. Small Business Administration has announced the availability of the loans following a Presidential disaster declaration.
Private Non-Profit organizations that do not provide critical services of a government nature may borrow up to two million dollars to repair or replace damaged or destroyed real estate, machinery, equipment or inventory. The interest rate is set at two percent with terms up to 30 years.
Private Non-Profit or “PNP” organizations are urged to contact their county Emergency Manager to provide information about their information to be submitted to the Federal Emergency Management Agency to determine eligibility.
Applicants can apply vial the SBA secure website.
The deadline to file is December 7.
(Apply under SBA declaration #17223.)