The U.S. Small Business Administration (SBA) reminds Private Non-Profit organizations (PNPs) in Connecticut that August 23, 2013 is the deadline to submit Economic Injury Disaster Loan (EIDL) applications. These loans are available from the SBA for damages caused by Storm Sandy between October 27, 2012 and November 8, 2012.
PNPs located in the following counties that provide non-critical services are eligible to apply: Fairfield, Litchfield, Middlesex, New Haven, New London, Tolland, Windham; the Mashantucket Pequot Tribal Nation and Mohegan Tribal Nation located within New London County.
Examples of eligible non-critical PNP organizations include, but are not limited to food kitchens, homeless shelters, museums, libraries, community centers and colleges.
The SBA offers Economic Injury Disaster Loans to help meet working capital needs such as ongoing operating expenses for eligible non-critical PNP organizations. This assistance is available regardless of whether the organization suffered any physical property damage. Loan amounts can be up to $2 million and interest rate of 3 percent with terms up to 30 years. The SBA sets loan amounts and terms based on each applicant's financial condition.
Fairfield First Selectman Mike Tetreau said, "I encourage Fairfield private non-profits that were closed or lost revenue as a result of Storm Sandy to apply for this loan. I also wish to remind businesses and residents that the Town has partnered with Operation Hope to create a Fairfield Storm Sandy Relief Fund. Anyone seeking financial assistance should contact the Town's Department of Social Services at 256-3169."
To apply online using the Electronic Loan Application (ELA), visit the SBA's secure website at https://disasterloan.sba.gov/ela.
The filing deadline to return economic injury applications is August 23, 2013.