Disaster Loans Available for Local Nonprofits

The U.S. Small Business Administration announced today that Fulton County has been added to the list of Kentucky counties where private nonprofit organizations can apply for disaster loans to cover damages caused by severe storms, straight-line winds, flooding, landslides and mudslides that happened in February and March.

Eligible charities such as food kitchens, homeless shelters, museums, libraries, community centers, schools and colleges need to submit disaster loan applications by June 17.

Other western Kentucky counties already on the list include Ballard, Carlisle, Crittenden, Fulton, Livingston, Marshall, McCracken, Trigg, Union, and Webster. 
 
The SBA offers low interest disaster loans for physical losses up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other business assets.  The interest rate is 2.75 percent with terms up to 30 years.

Applicants may apply online using the SBA's secure website at DisasterLoan.sba.gov.