Oklahoma Storms Trigger Presidential Aid for Non-Profits Only
Published Date: 3/27/2025
Notice
Summary
Oklahoma got hit hard by storms, tornadoes, and flooding from November 2-5, 2024, and the President declared it a major disaster for public help. Non-profit groups in eight counties can now apply for low-interest disaster loans to fix damage or cover economic losses. Act fast—physical damage loans must be applied for by May 19, 2025, and economic injury loans by December 18, 2025.
Analyzed Economic Effects
2 provisions identified: 2 benefits, 0 costs, 0 mixed.
Disaster Loans Available to Nonprofit Organizations
If you run a private non-profit organization that provides essential governmental services in Adair, Garvin, Jefferson, Lincoln, Okfuskee, Oklahoma, Stephens, or Washita counties, you can apply for SBA disaster loans related to the November 2–5, 2024 storms. Apply online at the MySBA Loan Portal (https://lending.sba.gov). Physical damage loan applications must be filed by May 19, 2025, and Economic Injury (EIDL) loan applications by December 18, 2025.
Low SBA Interest Rate for Eligible Nonprofits
SBA disaster loans for eligible private non-profit organizations in this declaration carry an interest rate of 3.625% for both physical damage and economic injury loans, and that rate applies whether or not credit is available elsewhere.
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