Alaska Storms Trigger SBA Disaster Loans for Nonprofits
Published Date: 2/6/2025
Notice
Summary
A major disaster was declared for parts of Alaska after severe storms and flooding hit from October 20-23, 2024. Non-profit groups in the Bering Strait and Northwest Arctic areas can now apply for low-interest disaster loans to help recover. Physical damage loan applications are due by March 31, 2025, and economic injury loans by October 31, 2025.
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
Low-Interest Disaster Loans for Nonprofits
Private non-profit organizations that provide essential governmental services in the Bering Strait Regional Educational Attendance Area and Northwest Arctic Borough can apply for SBA disaster loans. Physical damage loan applications are due by March 31, 2025, and Economic Injury (EIDL) loan applications are due by October 31, 2025; the interest rate shown is 3.250% for both physical damage and economic injury loans.
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