Additional Counties Eligible for SBA Disaster Assistance; Deadline Approaching for Private Non-Profit Organizations in Maryland

ATLANTA, Dec. 20, 2012 /PRNewswire-USNewswire/ -- The U.S. Small Business Administration adds Carroll and Montgomery counties for disaster assistance and reminds eligible Private Non-Profit Organizations (PNPs) of the Jan. 21 deadline to submit disaster loan applications for physical damage in Maryland. These loans are available as a result of a Presidential disaster declaration for Public Assistance resulting from damages caused by Hurricane Sandy.

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Examples of eligible non-critical PNP organizations include, but are not limited to, food kitchens, homeless shelters, museums, libraries, community centers, schools and colleges.

PNPs located in the following counties are eligible to apply: Allegany, Anne Arundel, Calvert, Caroline, Carroll, Cecil, Charles, Dorchester, Frederick, Garrett, Harford, Howard, Kent, Montgomery, Prince Georges , Queen Annes, Saint Marys, Somerset, Talbot, Washington, Wicomico, Worcester and the Independent City of Baltimore in Maryland.  

PNP organizations may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other business assets.  The SBA may increase a loan up to 20 percent of the total amount of disaster damage to real estate and/or leasehold improvements, as verified by SBA, to make improvements that lessen the risk of property damage by future disasters of the same kind.

The SBA also offers Economic Injury Disaster Loans to help meet working capital needs, such as ongoing operating expenses to PNP organizations of all sizes.  Economic Injury Disaster Loan assistance is available regardless of whether the organization suffered any physical property damage.

Interest rates are as low as 3 percent with terms up to 30 years.  The SBA sets the loan amounts and terms based on each applicant's financial condition.

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 may also be obtained by calling the SBA's Customer Service Center at 800-659-2955 (800-877-8339 for the deaf and hard-of-hearing) or by sending an e-mail to disastercustomerservice@sba.gov. Applications can also be downloaded from www.sba.gov. Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155. 

The filing deadline to return applications for physical property damage is January 21, 2013.  The deadline to return economic injury applications is August 20, 2013. 

For more information about the SBA's Disaster Loan Program, visit our website at www.sba.gov.

Release Number: 13-147, MD 13394/13395

Contact: Mark Ihenacho
Phone: 404-331-0333

SOURCE U.S. Small Business Administration

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