Private NonProfit (PNP) organizations that suffered damages during the May 27-28, 2018 flooding have until April 2, 2019 to apply for disaster relief loans from the U.S. Small Business Administration.
Severe storms caused flooding throughout the region on May 27-28, 2018. The southwestern portion of Baltimore County and neighboring Howard County were hardest hit. Catonsville received more than 10 inches of rain, and Howard County's Ellicott City was devastated by flash floods.
PNPs in Baltimore and Howard counties are eligible to apply for low-interest Economic Injury Disaster Loans to assist with damages caused by the storm.
Eligible PNPs must not provide critical services of a governmental nature. Eligible PNP organizations include, but are not limited to, food kitchens, homeless shelters, museums, libraries, community centers, schools and colleges.
The SBA says it offers Economic Injury Disaster Loans to help eligible PNPs meet working capital needs, such as ongoing expenses. This assistance is available regardless of whether the organization suffered physical property damage. Loan amounts may be as high as $2 million, with an interest rate of 2.5 percent over 30 years. The SBA sets loan amounts and terms based on the applicant's financial condition.
The deadline to return Economic Injury Disaster Loan applications is April 2, 2019.
Applicants may apply online using the Electronic Loan Application at SBA's secure web site, DisasterLoan.sba.gov.
Disaster loan information and application forms can be obtained from the SBA's Customer Service Center, 800-659-2955 (800-877-8339 for the deaf and hard-of-hearing), or by sending an email to email@example.com.
Loan applications can be downloaded from www.sba.gov.
Mail completed applications to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Rd., Fort Worth, TX 76155.