{"id":395938,"date":"2023-07-14T06:06:13","date_gmt":"2023-07-13T20:06:13","guid":{"rendered":"https:\/\/www.saipantribune.com\/?p=395938"},"modified":"2023-07-14T06:06:13","modified_gmt":"2023-07-13T20:06:13","slug":"sba-disaster-assistance-available-to-cnmi-private-nonprofits","status":"publish","type":"post","link":"https:\/\/www.saipantribune.com\/index.php\/sba-disaster-assistance-available-to-cnmi-private-nonprofits\/","title":{"rendered":"SBA disaster assistance available to CNMI private nonprofits"},"content":{"rendered":"

SACRAMENTO, Calif.<\/strong>\u2014Low-interest federal disaster loans are now available to certain private nonprofit organizations in the Commonwealth of the Northern Mariana Islands following President Biden\u2019s federal disaster declaration for Public Assistance as a result of Typhoon Mawar that occurred May 22 \u2013 29, announced Administrator Isabella Casillas Guzman of the U.S. Small Business Administration. Private nonprofits that provide essential services of a governmental nature are eligible for assistance.<\/p>\n

These low-interest federal disaster loans are available on Rota, Saipan, and Tinian.<\/p>\n

\u201cPrivate nonprofit organizations should contact\u2026Franklin Babauta of the CNMI Homeland Security and Emergency Management Office by calling (670) 237-8000 or emailing franklin.babauta@cnmihsem.gov.mp to obtain information about applicant briefings,\u201d said director Tanya N. Garfield of SBA\u2019s Disaster Field Operations Center-West. \u201cAt the briefings, private nonprofit representatives will need to provide information about their organization\u201d<\/p>\n

The Federal Emergency Management Agency will use that information to determine if the private nonprofit provides an \u201cessential governmental service\u201d and is a \u201ccritical facility\u201d 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.<\/p>\n

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.<\/p>\n

For certain private nonprofit organizations of any size, SBA offers Economic Injury Disaster Loans to help with meeting working capital needs caused by the disaster. Economic Injury Disaster Loans may be used to pay fixed debts, payroll, accounts payable and other bills that cannot be paid because of the disaster\u2019s impact. Economic injury assistance is available regardless of whether the nonprofit suffered any property damage.<\/p>\n

The interest rate is 2.375% with terms up to 30 years. The deadline to apply for property damage is Sept. 8, 2023. The deadline to apply for economic injury is April 10, 2024.<\/p>\n

Applicants may apply online, receive additional disaster assistance information and download applications at https:\/\/disasterloanassistance.sba.gov\/. Applicants may also call SBA\u2019s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services. Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155. (PR)<\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

SACRAMENTO, Calif.\u2014Low-interest federal disaster loans are now available to certain private nonprofit organizations in the…<\/p>\n","protected":false},"author":28,"featured_media":395939,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[26,4636,1204],"class_list":["post-395938","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-local-news","tag-cnmi","tag-sacramento","tag-sba"],"_links":{"self":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts\/395938","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/users\/28"}],"replies":[{"embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/comments?post=395938"}],"version-history":[{"count":0,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts\/395938\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/media\/395939"}],"wp:attachment":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/media?parent=395938"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/categories?post=395938"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/tags?post=395938"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}