SBA disaster loans available for nonprofits

OKLAHOMA CITY (AP) – The Small Business Administration says low-interest federal disaster loans are now available to private, nonprofit organizations in nine more Oklahoma counties affected by severe storms and flooding in May.

SBA Administrator Maria Contreras-Sweet says disaster assistance is now available in 25 Oklahoma counties that were affected by severe storms that began on May 5. Private, nonprofit groups that provide essential services of a governmental nature are eligible for assistance.

The SBA can lend the groups up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other business assets. The organization can lend additional funds to help with the cost of improvements to protect, prevent or minimize the same type of disaster damage from occurring in the future.

Applications are due Aug. 3.