Deadlines coming up for Hurricane Irma disaster loans for businesses, nonprofits

May 29--Low-interest loans are still available to small businesses and nonprofit groups in designated counties in Florida and with the Seminole Tribe of Florida that were affected by 2017's Hurricane Irma.

For businesses and nonprofits in Palm Beach, Broward and Miami-Dade counties, the deadline for loan applications is June 11, according to the U.S. Small Business Administration. For the Seminole Tribe, which has businesses and nonprofits in Broward and other Florida counties, the deadline is June 27.

The working capital disaster loans are designed for businesses and nonprofits that suffered economic losses due to the storm, according to Richard Morgan, acting director of SBA Field Operations Center East.

The loans are available for up to $2 million at a 3.3 percent interest rate for small businesses, and 2.5 percent for private nonprofit organizations, with terms of up to 30 years. The loans can be used to pay fixed debts, payroll, accounts payable, and for other expenses that could have been paid had the disaster not occurred.

Those eligible can apply online at DisasterLoan.sba.gov. Loan applications can also be downloaded at sba.gov/disaster.

Businesses may also obtain information and loan applications by calling the SBA's Customer Service Center at 800-659-2955 (800-877-8339 for the deaf and hard-of-hearing), or by emailing disastercustomerservice@sba.gov.

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

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mpounds@sunsentinel.com or 561-243-6650, twitter: @marciabiz

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