SBA Loans for July Storms Available - Deadline Nov 3
U.S. Small Business Administration (SBA) is reminding private nonprofit organizations
(PNP) in New York of the Nov. 3 deadline to submit disaster loan applications for physical damages that
occurred from the severe storms and straight-line winds that occurred July 18-21, 2023.
Eligible PNP organizations in the following Tennessee counties may apply: Fayette, Henry, Shelby, and
Tipton. Examples of eligible non-critical PNP organizations include, but are not limited to, food
kitchens, homeless shelters, museums, libraries, community centers, schools and colleges.
PNP organizations may borrow up to $2 million to repair or replace damaged or destroyed real estate,
machinery and equipment, inventory, and other business assets. The interest rate is 2.375 % with terms
up to 30 years.
Applicants may be eligible for a loan amount increase of up to 20 % of their physical damages, as verified
by the SBA for mitigation purposes. Eligible mitigation improvements may include a safe room or storm
shelter, sump pump, French drain or retaining wall to help protect property and occupants from future
Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at
SBA.gov/Disaster and should apply under SBA declaration # 18120.
Disaster loan information and application forms may also be obtained by calling the SBA’s Customer
Service Center at 800-659-2955 (if you are deaf, hard of hearing, or have a speech disability, please dial
7-1-1 to access telecommunications relay services), or by emailing DisasterCustomerService@sba.gov.
Loan applications may be downloaded at sba.gov/disaster. Completed applications should be mailed
to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road,
Fort Worth, TX 76155.
The filing deadline to submit applications for physical property damage is Nov. 3, 2023. The deadline
to submit economic injury applications is June 4, 2024.
About the U.S. Small Business Administration
The U.S. Small Business Administration helps power the American dream of business ownership. As the
only go-to resource and voice for small businesses backed by the strength of the federal government, the
SBA empowers entrepreneurs and small business owners with the resources and support they need to
start, grow, expand their businesses, or recover from a declared disaster. It delivers services through an
extensive network of SBA field offices and partnerships with public and private organizations. To learn
more, visit www.sba.gov.