(Washington, D.C.) – The U.S. Small Business Administration (SBA) says low-interest federal disaster loans are available for eligible private nonprofit organizations impacted by last month’s severe storms, straight-line winds, tornadoes, and flooding. .
Private nonprofits and faith-based organizations in Franklin and 10 other counties can apply for loans such as:
- Physical Disaster Loans: Repair or replace disaster-damaged property, equipment, inventory, and assets.
- Economic Injury Disaster Loans: Working capital assistance for operational expenses caused by the disaster.
- Mitigation Funding: SBA disaster loans can be increased up to 20% of the verified losses to make building upgrades.
SBA says key details are:
• Up to $2 million in loan funding
• Interest rate as low as 3.625% for private nonprofit organizations
• Loan terms of up to 30 years
• No interest or required payments during the first 12 months following disbursement
You can apply online at sba.gov/disaster.
The application for Physical Damage Loans is October 25; Economic Injury Disaster Loan applications are due May 25, 2027.
Applicants may call the SBA Customer Service Center with questions about their application at (800) 659-2955 or email disastercustomerservice@sba.gov.
For people who are deaf, hard of hearing, or have a speech disability, should dial 7-1-1 to access telecommunications relay services.
