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April 23 SBA loan deadline for summer storms

CHARLESTON, W.Va. -- Private, nonprofit organizations in West Virginia have until April 23 to submit disaster loan applications for damages caused by severe summer storms last year.

The U.S. Small Business Administration offers economic injury disaster loans to help those organizations meet working capital needs such as operating expenses. Loan amounts can be up to $2 million. The interest rate is 3 percent with terms of up to 30 years.

Eligible organizations include food kitchens, homeless shelters, museums, libraries, schools and colleges.

A June 29 derecho and subsequent storms left three people dead and more than 680,000 customers without electricity across the state.

 


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