Deadline approaching for Economic Injury Disaster Loan applicati - WRCBtv.com | Chattanooga News, Weather & Sports

Deadline approaching for Economic Injury Disaster Loan applications

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COUNTY - Rhea COUNTY - Rhea
RHEA COUNTY, TN -

The U.S. Small Business Administration is reminding Private NonProfit (PNP) organizations in Tennessee of the March 23 deadline to submit Economic Injury Disaster Loan applications for damages caused by severe storms, straight-line winds and flooding on  May 27-28, 2017. 
 
PNPs located in Blount, Cumberland, Fayette, Jackson, Jefferson, Knox, Loudon, Morgan, Putnam, Rhea, Roane, Sevier, Shelby and Smith counties in Tennessee are eligible to apply.  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 eligible non-critical PNP organizations meet their working capital needs such as ongoing operating expenses.  This assistance is available regardless of whether the organization suffered any physical property damage.  Loan amounts can be up to $2 million with an interest rate of 2.5 percent and terms up to 30 years.   The SBA sets loan amounts and terms based on each applicant’s financial condition. To be considered for this assistance, PNPs need to apply by the deadline. 
 
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 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 sending an email to disastercustomerservice@sba.gov.  Loan applications can also be downloaded from www.sba.gov/disaster.  Completed applications should be mailed to: 

    U.S. Small Business Administration

    Processing and Disbursement Center

    14925 Kingsport Road, Fort Worth, TX 76155. 


The deadline to return economic injury applications is March 23, 2018. 
 

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