The Small Business Administration reminds private nonprofits that March 16 is the deadline to apply for a federal disaster loan related to wildfire damage.
Private nonprofits of any size that provide essential government-based services are eligible for assistance, the SBA said in a statement. Disaster loans of up to $ 2 million are available to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other business assets.
The SBA may lend additional funds to help cover the cost of upgrades that protect, prevent, or minimize the same type of damage from a disaster in the future.
The SBA also offers Economic Disaster Loans to help eligible private nonprofits meet working capital needs caused by disasters, for example to pay fixed debts, salaries, accounts payable and d ‘other bills that cannot be paid due to the impact of the disaster.
Aid for economic damage is available whether or not the private non-profit association has suffered property damage. Nonprofits have until October 15 to apply for this loan.
Low interest rate loans are available in Grand and Larimer counties. The interest rate is 2.75% with terms of up to 30 years and the amounts are based on the financial status of each applicant.
Groups can apply online, receive additional information about disaster assistance, and download applications from catastropheloanassistance.sba.gov.
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