Thursday, August 13, 2015

Disaster loans available to nonprofits in 8 W.Va. counties

(AP) — Nonprofit groups in eight West Virginia counties are eligible to apply for federal disasters loans to help recover from severe storms last month.

The U.S. Small Business Administration announced the availability of the loans Wednesday to groups in Braxton, Clay, Lincoln, Logan, Nicholas, Roane, Webster and Wood counties.

Gov. Earl Ray Tomblin issued a state of emergency after heavy rains, rockslides, mudslides and severe flooding occurred in mid-July.

Nonprofit groups can borrow up to $2 million to repair or replace damaged or destroyed property, equipment, inventory and other business assets.

Federal disaster loans to help meet working capital needs also are available.