On Jul. 11, SBA reported aid to nonprofits after South Fork, Salt Fire.
SBA reported disaster assistance available to NM private nonprofit organizations.
Follows White House Jun. 2024 public assistance disaster declaration, see #216483.
Assistance as a result of the South Fork Fire, Salt Fire, flooding beginning Jun. 17.
Low-interest federal disaster loans are now available to some private nonprofits.
Eligibility
Private nonprofits that provide essential services of governmental nature are eligible.
In Lincoln, Otero, Rio Arriba, San Juan counties, Mescalero Apache Tribe, up to $2mn.
Loans repair damaged real estate, machinery, equipment, inventory, business assets.
Can lend additional funds for cost of improvements to help with future mitigation.
For certain private nonprofits, SBA offers Economic injury disaster loans (EIDLs).
EIDLs are intended to help meet working capital needs caused by the disaster.
May be used for fixed debts, payroll, accounts payable, unpaid bills due to impact.
Economic injury assistance is available regardless of any actual property damage.
Application Deadline
Deadline to apply for property damage is Sep. 9, 2024; for EIDLs, Apr. 11, 2025.
Jul. 2024 SBA Public Assistance Declaration
On Jul. 18, 2024, SBA published New Mexico declaration in the federal register.
Jul. 30, 2024 White House Amends Declaration
On Jul. 30, 2024, White House amended New Mexico disaster declaration by increasing in the level of federal funding for debris removal and emergency protective measures.
Aug. 2024 Fed Reg WH Declaration Amendment
On Aug. 23, 2024, White House published New Mexico disaster declaration amendment 3 in the federal register, extending physical loan application deadline to Oct. 19, 2024.
