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Dinolfo Reminds Non-Profits Of Application Deadline For Flood-Related Disaster Loans

Monroe County Executive Cheryl Dinolfo reminds Private Non-Profit (PNP) organizations of the August 14 deadline to submit Economic Injury Disaster Loan applications to the U.S. Small Business Association (SBA) for damages caused by flooding. PNP organizations within Western New York are currently eligible to recuperate costs incurred by flooding damages that occurred during the period of May 2, 2017 through August 6, 2017.

“We would like to remind all Private Non-Profit business within Monroe County of this impending August 14th deadline,” said Dinolfo. “As we all remember, flooding damages last summer due to overflow from Lake Ontario affected the lives and livelihoods of many Monroe County residents. The SBA is offering loans to offset many of the struggles non-profit organizations have endured, and it is vital that our community is aware of the aid they can receive — and that the deadline to apply for that aid is fast approaching.”

The SBA offers Economic Injury Disaster Loans to help eligible non-critical PNP organizations meet their working capital needs such as ongoing operating expenses. Examples of eligible non-critical PNP organizations include, but are not limited to, food kitchens, homeless shelters, museums, libraries, community centers, schools and colleges. 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 2.5 percent and terms up to 30 years, and the SBA sets loan amounts and terms based on each applicant’s financial condition. Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s website at disasterloan.sba.gov/ela/. Disaster loan information and application forms may 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.

Submissions will be considered until the August 14, 2018 deadline.