Small nonfarm businesses in the following counties are now eligible to apply for low interest federal disaster loans from the
Click here to view the table: (https://www.sba.gov/offices/disaster/dfocw/resources/1638937)
“SBA eligibility covers both the economic impacts on businesses dependent on farmers and ranchers that have suffered agricultural production losses caused by the disasters and businesses directly impacted by the disasters,” Garfield said.
Small nonfarm businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size may qualify for Economic Injury Disaster Loans of up to
“Eligibility for these loans is based on the financial impact of the disasters only and not on any actual property damage. These loans have an interest rate of 3.58 percent for businesses and 2.5 percent for private nonprofit organizations, a maximum term of 30 years, and are available to small businesses and most private nonprofits without the financial ability to offset the adverse impact without hardship,” Garfield said.
By law, SBA makes economic injury available when the
Businesses primarily engaged in farming or ranching are not eligible for SBA disaster assistance. Agricultural enterprises should contact the
Applicants may apply online, receive additional disaster assistance information and download applications at https://disasterloan.sba.gov/ela. Applicants may also call