SBA Disaster Services
The Small Business Administration says low-interest federal disaster loans are available to certain private, nonprofit organizations on the Standing Rock Indian Reservation as a result of severe storms and flooding on May 25 through June 1.
The SBA says that organizations that provide essential governmental services on the reservation that spans North Dakota and South Dakota should begin the process by registering with FEMA.
The loans of up to $2 million can be used to repair or replace damaged or destroyed real estate, machinery, inventory and other business assets. The 2.875-percent-interest-rate loans can be financed with terms up to 30 years.
Interested organizations should register with FEMA.
The filing deadline is Aug. 26 for property damage and March 25 for economic injury applications.
Copyright 2012 by The Associated Press. All Rights Reserved.