Missouri Starts New Year With Presidential Disaster Declaration
Published Date: 1/8/2025
Notice
Summary
The President declared a major disaster for Missouri due to severe storms, tornadoes, winds, and flooding from November 3-9, 2024. This helps local non-profits get low-interest disaster loans to fix damage and recover. Affected counties can apply for physical damage loans by March 3, 2025, and economic injury loans by October 1, 2025.
Analyzed Economic Effects
2 provisions identified: 2 benefits, 0 costs, 0 mixed.
Disaster Loans Available to Affected Nonprofits
If you run a private nonprofit that provides essential governmental services in the listed Missouri counties, you may apply for SBA disaster loans for physical damage and economic injury. The incident period is November 3, 2024 through November 9, 2024; physical damage loan applications are due by March 3, 2025 and economic injury (EIDL) applications are due by October 1, 2025. Apply using the MySBA Loan Portal at https://lending.sba.gov.
Low Interest Rate for Eligible Nonprofit Loans
The interest rate for eligible nonprofit disaster loans in this declaration is 3.625% for both physical damage and economic injury loans, and this rate applies whether or not the nonprofit has credit available elsewhere. These published rates apply to the disaster numbers assigned (physical damage 20948C and economic injury 209490).
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