The U.S. Small Business Administration (SBA) has issued a reminder to private nonprofit organizations in the Native Village of Kwigillingok about the approaching deadline to apply for federal disaster loans. These loans are available to address physical damage caused by the severe storm and flooding that occurred from August 15-18, 2024.
Under the current disaster declaration, private nonprofits providing governmental services can apply for business physical disaster loans. These organizations may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory, and other assets.
Additionally, applicants might qualify for an increase in their loan amount by up to 20% of their verified physical damages for mitigation purposes. Eligible improvements could include insulating pipes, walls and attics, weather stripping doors and windows, and installing storm windows.
Economic Injury Disaster Loans (EIDLs) are also available to help with working capital needs such as paying fixed debts, payroll, accounts payable, and other expenses that could have been covered if the disaster had not occurred. EIDL assistance is available even if there was no physical property damage.
The SBA advises applicants to submit their applications promptly since they will be prioritized based on receipt order. The agency remains committed to processing them efficiently.
For further information or online applications visit SBA.gov/disaster. Assistance is also available through SBA’s Customer Service Center at (800) 659-2955 or via email at disastercustomerservice@sba.gov. Telecommunications relay services can be accessed by dialing 7-1-1 for individuals who are deaf or hard of hearing.
Applications for physical property damage must be submitted by March 11. Economic injury applications have a deadline of October 10.