The U.S. Small Business Administration (SBA) is reminding private nonprofit organizations in Florida that they have until July 7 to apply for federal disaster loans. These loans are intended to mitigate economic losses resulting from Hurricane Helene, which occurred between September 23 and October 7, 2024.
The affected areas include a wide range of counties such as Alachua, Baker, Bradford, Charlotte, Clay, Citrus, Collier, Columbia, Dixie, Duval, Franklin, Gadsden, Gilchrist, Gulf, Hamilton, Hernando, Hillsborough, Jefferson, Lafayette, Lee, Leon, Levy, Liberty, Madison, Manatee, Marion Nassau Pasco Pinellas Putnam Sarasota Sumter Suwannee Taylor Wakulla and Union.
Under the disaster declaration for these counties in Florida, eligible PNPs providing non-critical services can apply for both business physical disaster loans and Economic Injury Disaster Loans (EIDLs). Examples of these organizations include food kitchens and homeless shelters among others.
PNPs may borrow up to $2 million to repair or replace damaged real estate and other assets. Additionally, applicants may qualify for a loan increase of up to 20% of their verified physical damages for mitigation purposes.
EIDLs are available even if there was no physical damage. They cover working capital needs like fixed debts and payroll impacted by the disaster.
“SBA loans help eligible small businesses and private nonprofits cover operating expenses after a disaster,” said Chris Stallings from the SBA's Office of Disaster Recovery and Resilience. “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.”
Interest rates start at 3.25%, with terms extending up to 30 years. Payments are deferred until 12 months after the first loan disbursement. Loan amounts and terms depend on each applicant’s financial condition.
Applications can be submitted online at sba.gov/disaster or by contacting SBA’s Customer Service Center at (800) 659-2955 or via email at disastercustomerservice@sba.gov. For telecommunications relay services dial 7-1-1.
The deadline for economic injury applications is July 7.
###