Published: August 02, 2011

Private Non-Profit Organizations in Three Additional Vermont Counties Eligible to Apply for SBA Disaster Loans

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ATLANTA - (BUSINESS WIRE) - The U.S. Small Business Administration announced today that Essex, Orange and Washington counties in Vermont have been added to the disaster declaration for Private Non-Profit Organizations (PNPs) that do not provide critical services of a governmental nature. Sept. 6, 2011 is the deadline to submit a disaster loan application for physical damages caused by the severe storms and flooding that occurred on May 26-27.

PNPs that do not provide critical services of a governmental nature in Caledonia County are also eligible for disaster loans from the SBA. 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 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 also offers mitigation funds to help borrowers pay for protective measures to minimize damages of the same kind in the future.

The SBA also offers Economic Injury Disaster Loans to help meet working capital needs, such as ongoing operating expenses to PNPs 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 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 applications for physical property damage is September 6, 2011. The deadline to return economic injury applications is April 9, 2012.

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

Release Number: 11-620, VT 12639/12640