The U.S. Small Business Administration (SBA) is reminding private nonprofit organizations in Kansas of the upcoming deadline to apply for federal disaster loans. These loans aim to mitigate economic losses caused by severe weather events that occurred from June 26 to July 7, 2024.
The affected counties include Chase, Clark, Comanche, Doniphan, Finney, Geary, Gray, Greeley, Hamilton, Kearny, Logan, Meade, Pawnee, Scott, Thomas, Wabaunsee and Wallace. The SBA's Economic Injury Disaster Loan (EIDL) program is available for non-critical service providers such as food kitchens and community centers that experienced financial setbacks due to the disaster.
Chris Stallings from the SBA highlighted the importance of these loans: "SBA loans help eligible small businesses and private nonprofits cover operating expenses after a disaster," he said. "These loans not only help business owners get back on their feet but also play a key role in sustaining local economies in the aftermath of a disaster."
Loans can reach up to $2 million with interest rates starting at 3.25% and terms extending up to 30 years. Interest does not accrue until one year after the first loan disbursement. Applicants are encouraged to submit applications promptly as they will be processed in order of receipt.
Applications can be submitted online at sba.gov/disaster or through other provided contact methods. The deadline for submission is June 24.