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Deadline Nears for NMI Nonprofits to Apply for SBA Fed Disaster Loan

Monday, Aug 14 2023
News
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Deadline Nears for NMI Nonprofits to Apply for SBA Fed Disaster Loan Markus Winkler

Nonprofits in the Northern Mariana Islands have until September 30th to apply for the Small Business Administration's Economic Injury Disaster Loan program. This program provides low-interest loans to help businesses and nonprofits recover from the economic impacts of the COVID-19 pandemic. The loans can be used to cover payroll costs, accounts payable, and other bills that cannot be paid due to the pandemic. This program is part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act. 

Opinion:

The SBA's Economic Injury Disaster Loan program is a great opportunity for nonprofits in the Northern Mariana Islands to get the financial support they need to recover from the economic impacts of the pandemic. However, it is important to note that this program is only available until September 30th. Therefore, it is essential for nonprofits to act quickly and apply for the loan before the deadline. Additionally, it is important to understand the terms and conditions of the loan before signing any paperwork.



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