SBA Relief Still Available to Nebraska Private Nonprofits Affected by April Storms
RELEASE DATE: Feb 04, 2025
WASHINGTON – The U.S. Small Business Administration (SBA) is reminding eligible private nonprofit (PNP) organizations in Nebraska of the March 3, 2025 deadline to apply for low interest federal disaster loans to offset economic losses caused by severe storms, straight-line winds and tornadoes that occurred April 25-27, 2024.
The disaster declaration covers the counties of Boone, Douglas, Greeley, Howard, Sherman and Washington.
Under this declaration, PNPs that provide services of a governmental nature and suffered financial losses related to the disaster are eligible to apply for Economic Injury Disaster Loans (EIDL). EIDLs are available for working capital needs caused by the disaster and are available even if the PNP did not suffer any physical damage. The loans may be used to pay fixed debts, payroll, accounts payable, and other bills that could have been paid had the disaster not occurred.
Interest rates can be as low as 3.25% with terms up to 30 years. Interest does not accrue, and payments are not due, until 12 months from the date of the first loan disbursement. The SBA sets loan amount terms based on each applicant’s financial condition.
The SBA encourages applicants to submit their loan applications promptly. Applications will be prioritized in the order they are received, and the SBA remains committed to processing them as efficiently as possible.
For more information and to apply online visit SBA.gov/disaster. 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. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.
The deadline to return economic injury applications is March 3.