SBA loans accessible for Tennessee nonprofits impacted by winter storms | Information

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small business loans

The U.S. Small Enterprise Administration introduced Tuesday that sure non-public nonprofits (PNPs) in Tennessee could also be eligible for low-interest catastrophe loans.

The loans can be found following a presidential catastrophe declaration ensuing from broken attributable to extreme winter storms on Feb. 3. Loans can be found for PNPs that don’t present important companies of a governmental nature.

In keeping with the SBA, examples of eligible PNP organizations embody meals kitchens, homeless shelters, museums, libraries, neighborhood facilities, colleges and faculties.

PNPs in Crockett, Fayette, Haywood, Lauderdale, Shelby, Tipton and Weakley counties in Tennessee are eligible to use.

PNP organizations might borrow as much as $2 million to interchange or restore actual property, equipment and tools that was destroyed through the winter storms.

The rate of interest is 1.875%, with phrases as much as 30 years.

Purposes may be submitted by clicking right here. The deadline to use is Might 10, 2022.



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