SBA, Treasury Begin Public-Private Mobilization Effort to Distribute Funds

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ATLANTA - The U.S. Small Business Administration is reminding eligible private nonprofit organizations (PNPs) in New Jersey that Sept. 13 is the filing deadline for federal economic injury disaster loans from Tropical Storm Isaias, which hit Aug. 4, 2020.  

According to a release from the U.S. Small Business Administration, non-critical PNPs located in the counties of Atlantic, Bergen, Burlington, Cape May, Cumberland, Essex, Gloucester, Monmouth, Morris, Salem and Sussex, in New Jersey, are eligible to apply. Examples of eligible non-critical PNP organizations include but are not limited to food kitchens, homeless shelters, museums, libraries, community centers, schools and colleges.  

The SBA offers Economic Injury Disaster Loans to help eligible non-critical PNP organizations meet their working capital needs, such as ongoing operating expenses. This assistance is available regardless of whether the organization suffered any physical property damage. 

Loan amounts can be up to $2 million, with an interest rate of 2.75%, with terms up to 30 years. The SBA sets loan amounts and terms based on each applicant’s financial condition. To be considered for this assistance, PNPs need to apply by the deadline. Applicants may apply for declaration No. 16814 online using the electronic loan application (ELA,) via SBA’s secure website, at DisasterLoanAssistance.sba.gov/ela/s/.  

Disaster loan information and application forms can also be obtained by calling the SBA’s Customer Service Center, at 800-659-2955 (800-877-8339 for the deaf and hard of hearing), or sending an email to DisasterCustomerService@sba.gov 

Loan applications can also be downloaded from sba.gov/disaster. Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Rd., Fort Worth, Texas, 76155. The deadline to submit economic injury disaster loan applications is Sept. 13, 2021. 

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