SBA Disaster Loan Application Deadline for Private Nonprofits Affected by Hurricane Isaias Approaching on December 14th

Washington, D.C. – The U.S. Small Business Administration (SBA) is reminding eligible Private Nonprofit organizations in eastern North Carolina that December 14, 2020 is the deadline to apply for disaster loans for physical damage caused by Hurricane Isaias. Private Nonprofits (PNP) with property in Beaufort, Brunswick, Carteret, Chowan, Craven, Hyde, Jones, Onslow, Pamlico and/or Pitt counties are eligible to apply for disaster loans worth up to $2 million.

The interest rate for these loans is 2.75 percent and terms can be as long as 30 years. Loans are capped at 20 percent of the damaged value. The disaster loan assistance application can be found here.

The SBA also offers loans for non-property related damage sustained from Hurricane Isaias through the Economic Injury Disaster Loan (EIDL) program. This type of loan can be used to cover things like operating costs. Applications for EIDL are due by July 14, 2021.

Congressman Greg Murphy, M.D. (NC-03) issued the following statement:

"Recovering from disasters such as Hurricane Isaias is a long process. In addition to federal assistance, our communities rely on the servants working at eastern North Carolina's nonprofits to fill in the gaps. Ensuring these organizations also have the resources they need to survive is a vital step to recovery and I am grateful to the SBA for taking part in a wholistic government response," said Murphy.