The assistance is tied to resulting damages caused by a severe winter storm and snowstorm on March 6 and 7.
The U.S. Small Business Association recently announced that Burlington County has been added to the presidential disaster declaration for public assistance resulting from damages caused by a severe winter storm and snowstorm on March 6 and 7.
Private nonprofit organizations located in the following counties are eligible to apply: Bergen, Burlington, Essex, Morris, Passaic and Somerset in New Jersey.
Examples of eligible non-critical PNP organizations include, but are not limited to: food kitchens, homeless shelters, museums, libraries, community centers, schools and colleges. Those that do not provide critical services of a governmental nature may be eligible to apply for low-interest rate disaster loans.
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 2.5 percent with terms up to 30 years. Applicants may be eligible for loan amount increase up to 20 percent of their physical damages, as verified by the SBA for mitigation purposes. Eligible mitigation improvements may now include a safe room or storm shelter to help protect property and occupants from future damage caused by a similar disaster.
The SBA also offers Economic Injury Disaster Loans to help meet working capital needs, such as ongoing operating expenses to PNP organizations. Economic Injury Disaster Loan assistance is available regardless of whether the organization suffered any physical property damage.
PNP organizatoins are urged to contact their county’s emergency manager for information about their organizaton. The information will be submitted to FEMA to determine eligibility for a public assistance grant or whether the PNP should be referred to SBA for disaster loan assistance.
Applicants may apply online using the Electronic Loan Application via SBA’s secure website at DisasterLoan.sba.gov.
Disaster loan information and application forms may also be obtained by calling the SBA’s Customer Service Center at (800) 659–2955 or (800) 877–8339 for the deaf and hard-of-hearing, or by sending an email to [email protected]. Loan applications can also be downloaded from sba.gov/disaster. Completed applications should be mailed to: Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, T.X. 76155.
The filing deadline to submit applications for physical property damage is Aug. 7. The deadline to submit economic injury applicatoins is March 8, 2019.
