SACRAMENTO, Calif. – Low-interest federal disaster loans are now available to certain private nonprofit organizations in Alfalfa, Blaine, Comanche, Custer, Ellis, Garfield, Grant, Jackson, Kay, Lincoln, Major, McClain, Pawnee, Stephens, Tillman and Washita counties following the amendment to the Dec. 21, 2020, major disaster declaration for Public Assistance as a result of the severe winter storm that occurred Oct. 26-29, 2020, announced the U.S. Small Business Administration. Private nonprofits that provide essential services of a governmental nature are eligible for assistance.
These low-interest federal disaster loans are available in Alfalfa, Blaine, Caddo, Canadian, Cleveland, Comanche, Custer, Dewey, Ellis, Garfield, Grady, Grant, Jackson, Kay, Kingfisher, Kiowa, Lincoln, Logan, Major, McClain, Noble, Oklahoma, Pawnee, Payne, Pottawatomie, Roger Mills, Stephens, Tillman and Washita counties in Oklahoma.
“Private nonprofit organizations should contact Oklahoma Emergency Management by calling (405) 521-2481 to obtain information about applicant briefings. At the briefings, private nonprofit representatives will need to provide information about their organization,” said Director Tanya N. Garfield of SBA’s Disaster Field Operations Center-West. The Federal Emergency Management Agency will use that information to determine if the private nonprofit provides an “essential governmental service” and is a “critical facility” as defined by law. If so, FEMA may provide the private nonprofit with a Public Assistance grant for their eligible costs. If not, FEMA may refer the private nonprofit to SBA for disaster loan assistance.
SBA may lend private nonprofits up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other business assets. SBA can also 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.
For certain private nonprofit organizations of any size, SBA also offers Economic Injury Disaster Loans to help meet working capital needs caused by the disaster. Economic Injury Disaster Loans may be used to pay fixed debts, payroll, accounts payable and other bills that cannot be paid because of the disaster’s impact. Economic injury assistance is available regardless of whether the private nonprofit suffered any property damage.
The interest rate is 2.75 percent with terms up to 30 years. The deadline to apply for property damage is Feb. 19, 2021. The deadline to apply for economic injury is Sept. 21, 2021.
Applicants may apply online, receive additional disaster assistance information and download applications at https://
