Disaster loans are available in Barry, Bollinger, Butler, Carter, Howell, Madison, McDonald, New Madrid, Oregon, Reynolds, Ripley, Scott, Shannon, Stoddard and Texas counties. Francisco Sánchez Jr., associate director of the Office of Disaster Recovery and Resilience at the SBA, advises private nonprofits to contact the Missouri State Emergency Management Agency at (573) 526-9100 or visit their website to Find out more about applicant summaries. In these interviews, representatives will have to provide information about their organizations. FEMA will use this information to determine whether the nonprofit provides an essential government service and qualifies as an essential agency. Eligible organizations may receive Community Assistance grants at their own expense.
The SBA can lend up to $2 million to private nonprofit organizations to repair or replace real or damaged real estate, machinery, equipment, inventory, and other business assets. Additionally, the SBA provides development funds to prevent or reduce future disaster damage.
Economic Injury Disaster Loans are also available to nonprofit organizations of any size to help meet the working capital needs created by a disaster. These loans can be used to pay fixed debts, payroll, accounts payable, and other debts that cannot be paid due to the impact of the disaster. This assistance is available unless the nonprofit has experienced property damage.
The interest rate for these loans is 3.25 percent, with repayment terms up to 30 years. The application deadline for property damage loans is September 23, 2024, and for economic damage loans, the deadline is April 23, 2025. Interest does not start accruing until 12 months after the first loan payment, and repayments also begin months -12. after discharge.
Applications can be submitted online at SBA.gov/disaster, where additional disaster assistance information is available. SBA’s Customer Service Center can be reached at (800) 659-2955 or by email at disastercustomerservice@sba.gov. For those who are deaf, hard of hearing, or have speech disabilities, communication transfer services can be accessed by dialing 7-1-1.
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