The U.S. Small Business Administration (SBA) is reminding private nonprofit organizations in Missouri about the approaching deadline to apply for federal disaster loans. These loans aim to offset physical damage caused by severe weather events, including storms, straight-line winds, tornadoes, and flooding that occurred on April 29.
The affected areas include the Missouri counties of Barry, Greene, Lawrence, McDonald, Newton, and Washington. Under this disaster declaration, eligible PNPs providing services of a governmental nature can apply for business physical damage loans. They may borrow up to $2 million to repair or replace damaged real estate and other assets.
Applicants could also receive an increase of up to 20% of their physical damage loan amount for mitigation purposes. Improvements might involve insulating pipes and walls or installing storm windows.
"SBA loans help eligible private nonprofits cover both physical damage as well as economic injury after a disaster, which is crucial for their recovery," said Chris Stallings from the SBA's Office of Disaster Recovery and Resilience. "These loans not only help private nonprofits get back on their feet but help them rebuild."
PNPs can also apply for Economic Injury Disaster Loans (EIDLs) to assist with working capital needs such as payroll and accounts payable. EIDL assistance is available even if no physical property damage was sustained.
Interest rates can be as low as 3.625%, with terms extending up to 30 years. Payments are deferred until 12 months after the first disbursement.
The SBA urges applicants to submit applications promptly since they will be processed in order received. Applications can be submitted online at sba.gov/disaster or through SBA’s Customer Service Center.
Deadlines are set for August 11, 2025, for physical property damage applications and March 9, 2026, for economic injury applications.