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Aderholt Announces Small Business Loans for Churches, Nonprofits Affected by Storms

Monday June 23, 2014

IMMEDIATE RELEASE: June 23, 2014                                                                                                    CONTACT: Brian Rell, 202.225.4876

WASHINGTON, D.C. — Congressman Robert Aderholt (AL-04) today announced that the U.S. Small Business Administration (SBA) is offering loans through Tuesday, July 1, 2014 to help churches and other nonprofits in Alabama storm-damaged designated counties to rebuild. 

“Storms of this nature are difficult to recover from,” said Aderholt, “That is why it is important that we give the very institutions that will help others get back on their feet a helping hand.”

The Federal Emergency Management Agency (FEMA) released the following statement:

“Churches, temples, other religious centers, as well as other private nonprofit organizations in Alabama’s storm-damaged designated counties, are eligible to apply for U. S. Small Business Administration loans to help rebuild. The deadline to apply is Tuesday, July 1.

“Eligible private nonprofit organizations may borrow up to $2 million at interest rates as low as 2.635 percent to repair or replace damaged or destroyed real estate, furniture, fixtures, appliances, equipment, vehicles, other assets, and leasehold improvements.

“The terms of the loan may be up to 30 years, making payments affordable. The SBA sets loan amounts and terms based on each applicant’s financial condition. Interested organizations may apply before their insurance claims are settled.

“The SBA may loan up to 20 percent more than the total of disaster damage to real estate and/or leasehold improvements that reduce the risk of future disaster damages.

 “For more information, nonprofits may call (800) 659-2955 or visit a disaster recovery center. Forthose that are hearing impaired and require an assistive device (TTY), call (800) 877-8339. Nonprofits may also visit SBA’s secure website at https://disasterloan.sba.gov/ela to apply for disaster loans. Registration with FEMA is also recommended by calling (800) 621-3362 (the hearing impaired may call (800) 462-7585); online registration is available at www.DisasterAssistance.gov. Churches and other nonprofits also should investigate sources of aid from charitable agencies, volunteer groups, and private donors.”

Congressman Aderholt serves as Chairman of the Subcommittee on Agriculture, Rural Development, Food and Drug Administration, and Related Agencies for the powerful House Appropriations Committee; he is also a member of the Committee’s Defense Subcommittee, the Committee’s Commerce, Justice, and Science Subcommittee, and the Helsinki Commission.

 For more information about Aderholt’s work in Congress visit www.aderholt.house.gov.

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