Small, nonfarm businesses in Deschutes, Crook and Jefferson counties are eligible to apply for low‑interest federal disaster loans from the U.S. Small Business Administration (SBA).
“These loans offset economic losses because of reduced revenues caused by the drought in the following primary counties that began April 15, 2015,” said Tanya N. Garfield, director of the SBA’s Disaster Field Operations Center – West, in a news release. “SBA eligibility covers both the economic impacts on businesses dependent on farmers and ranchers that have suffered agricultural production losses caused by the disaster and businesses directly impacted by the disaster.”
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 $2 million to help meet financial obligations and operating expenses which could have been met had the disaster not occurred. The deadline to apply for these loans is December 22.
Eligibility for the loans is based on the financial impact of the disaster only and not on any actual property damage. Loans have an interest rate of 4 percent for businesses and 2.625 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.
Applicants may apply online using the Electronic Loan Application via SBA’s secure website at https://disasterloan.sba.gov/ela.
Disaster loan information and application forms are also available from SBA’s Customer Service Center by calling 800-659-2955 or emailing firstname.lastname@example.org. Individuals who are deaf or hard‑of‑hearing may call 800-877-8339. For more information about SBA’s disaster assistance programs, visit http://www.sba.gov/disaster.