The U.S. Small Business Administration (SBA) is reminding eligible private nonprofit organizations in the Saint Regis Mohawk Tribe area of the upcoming June 20 deadline to apply for federal disaster loans. These loans aim to offset economic losses caused by severe storms and flooding that occurred from August 8-10, 2024.
The disaster declaration applies specifically to the St. Regis Mohawk Tribe area. Under this declaration, SBA’s Economic Injury Disaster Loan (EIDL) program is available to nonprofits providing non-critical governmental services with financial losses directly related to the disaster. Eligible organizations include food kitchens, homeless shelters, museums, libraries, community centers, schools, and colleges.
These EIDLs are designed for working capital needs resulting from the disaster and can be utilized even if no physical damage was sustained. The loans may cover fixed debts, payroll, accounts payable, and other bills that remain unpaid due to the disaster.
“SBA loans help eligible small businesses and private nonprofits cover operating expenses after a disaster, which is crucial for their recovery,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “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.”
Loan amounts can reach up to $2 million with interest rates as low as 3.25% and terms extending up to 30 years. Interest does not accrue nor are payments due until 12 months from the first loan disbursement date. The SBA determines loan amounts and terms based on each applicant's financial condition.
Applications can be submitted online at sba.gov/disaster or through SBA’s Customer Service Center at (800) 659-2955 or via email at disastercustomerservice@sba.gov. For those who are deaf or hard of hearing or have a speech disability, telecommunications relay services can be accessed by dialing 7-1-1.
The deadline for returning economic injury applications is June 20, 2025.