On Aug. 28, SBA amended disaster declaration for Iowa nonprofits.
SBA amended IOW declaration following President Biden’s amendment to the Jul. 24 declaration due to storms, floods, winds, tornadoes that occurred Jun. 16 to Jul. 23.
Follows FEMA Jun. 2024 report of available disaster aid for IOW, see #217073.
Eligibility
Low-interest federal loans are available in Buena Vista, Cherokee, Clay, Des Moines, Dickinson, Dubuque, Emmet, Floyd, Harrison, Howard, Humboldt, Jackson, Kossuth.
Private nonprofits should submit company data which will be used to determine if the private nonprofit provides an essential governmental service and is a critical facility.
FEMA may provide the private nonprofit with Public Assistance grant for eligible costs.
SBA encourages all private nonprofits to apply with SBA for disaster loan assistance.
SBA may lend private nonprofits up to $2mn to repair/replace real estate, machinery and equipment, inventory, other assets, and extra funds for mitigating improvements.
May also provide Economic Injury Disaster Loans (EIDLs) to help meet working capital needs caused by disaster, to pay fixed debts, payroll, accounts payable and other bills.
Application Deadlines
Deadline to apply for property damage is Sep. 23, 2024, and for EIDLs, Apr. 24, 2025.
