News Flash Home
The original item was published from 8/18/2020 9:30:45 PM to 8/18/2020 9:33:29 PM.

News Flash

Home - City News

Posted on: August 18, 2020

[ARCHIVED] SBA Disaster Assistance Available to Iowa - Private Nonprofit Organizations

Small Business Administration logo

This information was announced late this afternoon by the U.S. Small Business Administration.


Low-interest federal disaster loans are now available to certain private nonprofit organizations in Iowa following President Trump’s federal disaster declaration for Public Assistance as a result of severe storms that occurred Aug. 10, 2020, announced Administrator Jovita Carranza of the U.S. Small Business Administration. Private nonprofits that provide essential services of a governmental nature are eligible for assistance.

 

These low-interest federal disaster loans are available in Benton, Boone, Cedar, Clinton, Dallas, Jasper, Johnson, Jones, Linn, Marshall, Muscatine, Polk, Poweshiek, Scott, Story and Tama counties.

 

“Private nonprofit organizations should contact Public Assistance Bureau Chief Katie Waters of the Iowa Homeland Security and Emergency Management Department by calling (515) 725-3231 or emailing katie.waters@iowa.gov to obtain information about applicant briefings,” said Director Tanya N. Garfield of SBA’s Disaster Field Operations Center-West. “At the briefings, private nonprofit representatives will need to provide information about their organization,” continued Garfield. The Federal Emergency Management Agency will use that information to determine if the private nonprofit provides an “essential governmental service” and is a “critical facility” as defined by law. If so, FEMA may provide the private nonprofit with a Public Assistance grant for their eligible costs. If not, FEMA may refer the private nonprofit to SBA for disaster loan assistance.

 

SBA may lend private nonprofits up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other business assets. SBA can also lend additional funds to help with the cost of improvements to protect, prevent or minimize the same type of disaster damage from occurring in the future.

 

For certain private nonprofit organizations of any size, SBA offers Economic Injury Disaster Loans to help with meeting working capital needs caused by the disaster. Economic Injury Disaster Loans may be used to pay fixed debts, payroll, accounts payable and other bills that cannot be paid because of the disaster’s impact. Economic injury assistance is available regardless of whether the nonprofit suffered any property damage.

 

The interest rate is 2.75 percent with terms up to 30 years. The deadline to apply for property damage is October 16, 2020. The deadline to apply for economic injury is May 17, 2021.

 

Applicants may apply online, receive additional disaster assistance information and download applications at https://disasterloanassistance.sba.gov/. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. Individuals who are deaf or hard‑of‑hearing may call (800) 877-8339. Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX  76155.

Facebook Twitter Email

Other News in Home - City News

MPD Logo

MARSHALLTOWN MAN CONVICTED OF MURDER

Posted on: February 19, 2024
MARSHALLTOWN FIRE DEPARTMENT EMBLEM 1

Garage Fire on February 17

Posted on: February 17, 2024
Arrest Made Image

Local Teacher Arrested for Assault

Posted on: February 18, 2024
MPD Logo

Civilian Response to Violent Incidents Training

Posted on: January 25, 2024 | Last Modified on: August 10, 2018
MPD Logo

Civilian Response to Violent Incidents Training

Posted on: January 25, 2024 | Last Modified on: August 10, 2018
Vision-Marshalltown-rgb-Vert

City Administrator Resignation

Posted on: January 23, 2024
MPD Team Members

MPD Announces 2024 Citizens Police Academy

Posted on: December 27, 2023
MFD LOGO 2017

Position Announcement - Fire Chief

Posted on: December 18, 2023
SCAM 01

Imposter Scams

Posted on: December 12, 2023
Notify Me Logo

Winter Weather Reminders

Posted on: November 4, 2023