According to Garfield, eligible private nonprofits of any size may apply for SBA federal disaster loans of up to
In addition, SBA offers Economic Injury Disaster Loans to help eligible private nonprofits meet working capital needs caused by the disaster. Economic Injury Disaster Loans may be used to pay fixed debts, payroll, accounts payable and other bills that cannot be paid because of the disaster's impact. Economic injury assistance is available regardless of whether the private nonprofit suffered any property damage. Private nonprofits have until
These low-interest federal disaster loans are available in
The interest rate is 2.75 percent with terms up to 30 years. Loan amounts and terms are set by SBA and based on each applicant's financial condition.
Applicants may apply online, receive additional disaster assistance information and download applications at https://disasterloan.sba.gov/ela. Applicants may also call