The U.S. Small Business Administration (SBA) is reminding private nonprofit organizations in Missouri of the approaching deadline to apply for federal disaster loans. These loans are intended to offset physical damage from severe storms, straight-line winds, tornadoes, and wildfires that occurred on March 14-15.
The disaster declaration affects several counties in Missouri, including Bollinger, Butler, Callaway, Carter, Dunklin, Franklin, Howell, Iron, Madison, New Madrid, Oregon, Ozark, Perry, Phelps, Reynolds, Ripley, Scott, Shannon, Stoddard and Wayne.
Eligible 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 real estate and other assets. There is also an option for a loan increase of up to 20% of the verified physical damages for mitigation purposes. This could include improvements like insulating pipes and installing storm windows.
Chris Stallings from the SBA stated: "One distinct advantage of SBA’s disaster loan program is the opportunity to fund upgrades reducing the risk of future storm damage." He encouraged businesses and homeowners to collaborate with contractors for storm readiness improvements while utilizing SBA’s mitigation loans.
Private nonprofits can also apply for Economic Injury Disaster Loans (EIDLs) to address working capital needs such as fixed debts and payroll. EIDL assistance is available even if there was no physical property damage.
Interest rates may be as low as 3.62%, 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 situation.
The SBA advises applicants to submit their applications promptly since they will be processed in order of receipt. 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 those who are deaf or hard of hearing or have a speech disability should dial 7-1-1 for telecommunications relay services.
The deadline for applications related to physical property damage is July 22, 2025. For economic injury applications the deadline is February 23, 2026.
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