President greenlights loans for WV flood-hit non-profits in 10 counties
Published Date: 3/26/2025
Notice
Summary
West Virginia got hit hard by storms, flooding, and mudslides from February 15-18, 2025. The President declared a major disaster to help local non-profits in 10 counties get low-interest loans for repairs and recovery. If you’re affected, you can apply for physical damage loans by May 19 and economic injury loans by December 19, 2025.
Analyzed Economic Effects
3 provisions identified: 3 benefits, 0 costs, 0 mixed.
Disaster Loans Available to Nonprofits
If you are a private non-profit organization that provides essential governmental services in the listed West Virginia counties, you may apply for SBA disaster loans because of the severe storms from February 15–18, 2025. The Presidential major disaster declaration was issued March 19, 2025, for FEMA-4861-DR and applicants may file online at the MySBA Loan Portal.
Low Interest Rate for Disaster Loans
The interest rate for both physical damage and economic injury disaster loans for eligible non-profit organizations is 3.625 percent as listed in the notice. For physical damage, non-profits with and without credit available elsewhere are shown at 3.625 percent; economic injury loans for non-profits without credit available elsewhere are shown at 3.625 percent.
Application Deadlines and How to Apply
You can apply for physical damage disaster loans through the MySBA Loan Portal by May 19, 2025, and for Economic Injury Disaster Loans (EIDL) by December 19, 2025. The notice gives the portal URL (https://lending.sba.gov) and SBA customer service contact options including email and phone (1-800-659-2955).
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