Dec. 10, 2012
/PRNewswire-USNewswire/ -- The U.S. Small Business Administration adds
Anne Arundel, Cecil and Prince Georges
for disaster assistance and reminds eligible Private Non-Profit Organizations (PNPs) to submit their disaster loan applications for damage in Maryland. These loans are available as a result of a Presidential disaster declaration for Public Assistance resulting from damages caused by Hurricane Sandy that occurred from
Oct. 26 through Nov. 4, 2012
PNPs located in the following counties are eligible to apply
and the Independent City of Baltimore in
. Examples of eligible non-critical PNP organizations include, but are not limited to, food kitchens, homeless shelters, museums, libraries, community centers, schools and colleges.
PNP organizations may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other business assets. The SBA may increase a loan up to 20 percent of the total amount of disaster damage to real estate and/or leasehold improvements, as verified by SBA, to make improvements that lessen the risk of property damage by future disasters of the same kind.
The SBA also offers Economic Injury Disaster Loans to help meet working capital needs, such as ongoing operating expenses to PNP organizations of all sizes. Economic Injury Disaster Loan assistance is available regardless of whether the organization suffered any physical property damage.