Apply for SBA Loan
Low-interest federal disaster loans are available to businesses of all sizes, most private nonprofit organizations, homeowners and renters whose property was damaged or destroyed by the Wildcat Creek flood on September 3, 2018.
Beginning Tuesday, Sept. 18, Small Business Administration (SBA) representatives will be on hand at the Disaster Loan Outreach Center, to be located at 1101 Fremont Street in Manhattan, KS (former Parks and Recreation office in City Park) to answer questions about SBA’s disaster loan program, explain the application process and help each individual complete their application. No appointment is necessary.
Apply online and receive additional disaster assistance information and download applications at https://disasterloan.sba.gov/ela.
The deadline to apply for property damage is Nov. 13, 2018. The deadline to apply for economic injury is June 14, 2019.
Disaster Loan Outreach Center
(Former Parks and Recreation Office)
1101 Fremont St
Manhattan, KS 66502
Opens 9 a.m. Tuesday, Sept. 18
Mondays - Fridays, 9 a.m. - 6 p.m.
Closes 6 p.m. Thursday, Sept 27
Businesses of all sizes and private nonprofit organizations may borrow 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 businesses and homeowners to help with the cost of improvements to protect, prevent or minimize the same type of disaster damage from occurring in the future.
For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size, SBA offers Economic Injury Disaster Loans to help meet working capital needs caused by the disaster. Economic injury assistance is available regardless of whether the business suffered any property damage.
Disaster loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for up to $40,000 to repair or replace damaged or destroyed personal property.
Interest rates can be as low as 3.675 percent for businesses, 2.5 percent for private nonprofit organizations and 2 percent for homeowners and renters with terms up to 30 years. Loan amounts and terms are set by SBA and are based on each applicant’s financial condition.
About the U.S. Small Business Administration
The U.S. Small Business Administration makes the American dream of business ownership a reality. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.