SACRAMENTO, Calif.—Low-interest federal disaster loans are now available to certain private nonprofit organizations in the CNMI following President Trump’s federal disaster declaration for Public Assistance as a result of Typhoon Mangkhut that occurred on Sept. 10-11, 2018, according to SBA administrator Linda McMahon of the U.S. Small Business Administration. Private nonprofits that provide essential services of a governmental nature are eligible for assistance.
These low-interest federal disaster loans are available on Rota, Saipan and Tinian.
“Private nonprofit organizations should contact public information officer Nadine Deleon Guerrero of the CNMI Homeland Security and Emergency Management Officer by calling (670) 237-8000 to obtain information about applicant briefings,” said director Tanya N. Garfield of SBA’s Disaster Field Operations Center-West. “At the briefings, private nonprofit representatives will need to provide information about their organization.”
The Federal Emergency Management Agency will use that information to determine if the private nonprofit provides an “essential governmental service” and is a “critical facility” as defined by law. If so, FEMA may provide the private nonprofit with a Public Assistance grant for their eligible costs. If not, FEMA may refer the private nonprofit to SBA for disaster loan assistance.
SBA may lend private nonprofits up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other business assets. SBA can also lend additional funds to help with the cost of improvements to protect, prevent or minimize the same type of disaster damage from occurring in the future. (PR)