ATLANTA, March 29, 2012 /PRNewswire-USNewswire/ -- The U.S. Small Business Administration reminds Private Non-Profit Organizations (PNPs) in Minnesota that April 28 is the deadline to submit Economic Injury Disaster Loan applications. The loans are available from the SBA because of the severe storms, flooding and tornadoes that occurred on July 1-11, 2011.
Eligible non-critical PNPs located in Chisago, Isanti, Kanabec, Kandiyohi, Lincoln, Lyon, McLeod, Meeker, Mille Lacs, Pine, Pipestone, Redwood, Renville, Stearns, Yellow Medicine and The Mille Lacs Band of Ojibwe counties in Minnesota are eligible to apply to the SBA. Examples of eligible non-critical PNP organizations include, but are not limited to food kitchens, homeless shelters, museums, libraries, community centers and colleges.
The SBA offers Economic Injury Disaster Loans to help meet working capital needs such as ongoing operating expenses for eligible non-critical PNP organizations. This assistance is available regardless of whether the organization suffered any physical property damage. Loan amounts can be up to $2 million, and the interest rate is 3 percent with terms up to 30 years. The SBA sets loan amounts and terms based on each applicant's financial condition.
To obtain disaster loan information and application forms, call the SBA's Customer Service Center at 800-659-2955 (800-877-8339 for the deaf and hard-of-hearing) or send an e-mail to [email protected]. 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.
PNPs affected by the disaster may also apply for disaster loans electronically from SBA's website at https://disasterloan.sba.gov/ela/.
The filing deadline to return economic injury applications is April 28, 2012.
For more information about the SBA's Disaster Loan Program, visit our website at www.sba.gov.
Contact: Michael Lampton
SOURCE U.S. Small Business Administration