President Greenlights Loans for Flooded Alaskan Village: Yawn?
Published Date: 1/21/2025
Notice
Summary
The President declared a major disaster for the Native Village of Kwigillingok after severe storms and flooding hit in August 2024. This means local non-profits can now apply for low-interest disaster loans to help recover, with physical damage loan applications due by March 11, 2025, and economic injury loans by October 10, 2025. It’s a big boost to get the village back on its feet!
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
Low‑Interest SBA Disaster Loans for Nonprofits
Private non‑profit organizations that provide essential governmental services in the Native Village of Kwigillingok, Alaska may apply for SBA disaster loans after the January 10, 2025 major disaster declaration for the August 15–18, 2024 storm and flooding. Physical damage loan applications are due by March 11, 2025 and Economic Injury (EIDL) loan applications are due by October 10, 2025. The published interest rate for both physical damage and EIDL loans for affected non‑profits is 3.250%, and applications can be filed at the MySBA Loan Portal (https://lending.sba.gov).
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