Business

Nonprofits have until July 2 to apply for Isaias disaster loans

Museums, colleges, libraries, soup kitchens and other private nonprofits are facing a July 2 deadline to apply for federal disaster loans to pay for damage caused by Tropical Storm Isaias in August 2020.

The U.S. Small Business Administration is accepting applications for its Economic Injury Disaster Loan, or EIDL, officials said.

The loans are up to $2 million per applicant with a term of as long as 30 years. The interest rate is 2.75%.

The money may be used as working capital and applicants aren’t required to have suffered property damage from the storm.

Nonprofits should use Disaster Declaration #16695 when applying for the EIDL at DisasterLoan.sba.gov.

More information is available by calling 800-659-2955.

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