The U.S. Small Business Administration announced the availability of low-interest federal disaster loans for eligible private nonprofit organizations in Iowa impacted by severe storms and flooding occurring July 1 – 4.
Eligible Counties
Jasper, Polk, Story, and Warren
Who Can Apply
- Private nonprofits & faith-based organizations
Loan Assistance Available
- Physical Disaster Loans: Repair or replace disaster-damaged property, equipment,
inventory, and assets. - Economic Injury Disaster Loans: Working capital assistance for operational
expenses caused by the disaster. - Mitigation Funding: SBA disaster loans can be increased up to 20% of the verified
losses to make building upgrades.
Key Loan Details
- Up to $2 million in loan funding
- Interest rate as low as 3.625% for private nonprofit organizations
- Loan terms of up to 30 years
- No interest or required payments during the first 12 months following disbursement
Apply online: sba.gov/disaster
Application Deadlines: Physical Damage Loans: Nov. 2, Economic Injury Disaster Loans: June 1, 2027