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ATLANTA – The U.S. Small Business Administration reminds eligible Private Non-Profit Organizations (PNPs) in U.S. Virgin Islands’ municipalities that August 5, 2011 is the deadline to submit Economic Injury Disaster Loan applications. The loans are available from the SBA because of severe storms, flooding, mudslides, and landslides associated with Tropical Storm Otto that occurred on Oct. 1-8, 2010.
These loans are available to PNPs located in Saint Croix, Saint John and Saint Thomas, including Water Island located in the U.S. Virgin Islands. Examples of eligible non-critical PNP organizations include, but are not limited to, food kitchens, homeless shelters, museums, libraries, community centers, schools 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.
Disaster loan information and application forms may be obtained by calling the SBA’s Customer Service Center at 800-659-2955 (800-877-8339 for people with speech or hearing disabilities) Monday through Friday from 8 a.m. to 6 p.m. ET, 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, Forth Worth, TX 76155.
Those 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 August 5, 2011.
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