Disaster Loans Available for Nonprofits in WV

The U.S. Small Business Administration (SBA) announced recently that nonprofit agencies, such as food kitchens and homeless shelters, may qualify for low-interest rate disaster loans. Nonprofit organizations can apply for funds to repair or replace assets that were damaged during the mid-December winter storm of 2009. Only organizations in the 15 disaster-declared counties are eligible – those counties include Boone, Calhoun, Clay, Fayette, Greenbrier, Kanawha, McDowell, Mingo, Nicholas, Pendleton, Pocahontas, Raleigh, Ritchie, Roane and Wyoming.

Loans are available to repair or replace homes, business properties, inventories, supplies, machinery, and equipment. Working capital loans can also be provided to assist organizations in meeting their financial obligations during the disaster recovery period. Approved loan applicants may also be eligible to receive additional funds to pay for improvements to help mitigate the impacts of future disasters.

To learn more about the loans and other SBA programs visit www.sba.gov or contact the West Virginia District Office at 304-623-5631 or wvinfo@sba.gov. The filing deadline for physical property damage is May 3. The deadline to return economic injury applications is Dec. 2.