Deadline Approaching for SBA Disaster Loans in Kansas for Winter Storm Damage
Kansas nonprofits must apply for SBA disaster loans by June 27 for damages from January's winter storm for loans available until January 2025.
The Small Business Administration (SBA) reminds private nonprofit organizations in Kansas of the upcoming June 27 deadline to apply for SBA federal disaster loans. These loans are available for property damage caused by a severe winter storm that occurred from January 8 to 16. Eligible nonprofits that provide essential governmental services can apply for assistance.
The June 27 deadline for property damage loans is fast approaching, with an extended deadline for Economic Injury Disaster Loans. These SBA loans provide financial support to help organizations recover and safeguard against future disasters.
Eligibility and Loan Details
Eligible private nonprofits of any size may apply for SBA federal disaster loans up to $2 million. These loans can be used to repair or replace damaged real estate, machinery, equipment, inventory, and other business assets. Additionally, the SBA offers funds for improvements to prevent or minimize future disaster damage.
The SBA also provides Economic Injury Disaster Loans to help eligible nonprofits meet working capital needs caused by the disaster. These loans can cover fixed debts, payroll, accounts payable, and other bills that cannot be paid due to the disaster’s impact. Economic injury assistance is available regardless of property damage, with a deadline to apply by January 28, 2025.
These low-interest federal disaster loans are available in Butler, Chase, Cloud, Edwards, Ford, Geary, Gray, Hodgeman, Morris, Osage, Ottawa, Pawnee, Shawnee, Stafford, Trego, and Wabaunsee counties in Kansas.
Interest Rate: 3.25%
Terms: Up to 30 years
Repayment: Begins 12 months from the date of the first disbursement
Interest Accrual: Begins 12 months from the date of the first disbursement
How to Apply
Applicants can apply online and find additional disaster assistance information at SBA.gov/disaster. For more assistance, applicants can contact the SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov. For those who are deaf, hard of hearing, or have a speech disability, telecommunications relay services can be accessed by dialing 7-1-1.
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This article, "Deadline Approaching for SBA Disaster Loans in Kansas for Winter Storm Damage" was first published on Small Business Trends
