According to Ricks, small nonfarm businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size may apply for Economic Injury Disaster Loans of up to
These low-interest federal disaster loans are available in
The interest rate is 4 percent for businesses and 2.625 percent for private nonprofit organizations with terms up to 30 years. Loan amounts and terms are set by SBA and are based on each applicant's financial condition.
Applicants may apply online using SBA's secure website at https://disasterloan.sba.gov/ela.
Disaster loan information and application forms are also available from