The US Small Business Department (SBA) calls on small enterprises and personal non-profit organizations affected by drought to apply for federal disaster loans on September 2024, 2025.
Help, Pennsylvania and Marshall, Monongalia and Marshall, Monongalia and Wetzel districts in West Virginia, Monongalia and Wetzel are taken under the disaster declaration for Greene, Fayette and Washington districts. Suitable applicants include small enterprises, small agricultural cooperatives, aquatic enterprises and private non-profit organizations (PNPS), the production loss (PNPS) due to the drought started on September 24, 2024.
“The United States provides critical financial assistance to helping SBA communities by the Secretary of Agriculture,” he said. “We are pleased to offer loans to small businesses and private non-profit organizations affected by these disasters.”
SBA’s Economic Injury Disaster Credit (EIDL) program, the appropriate institutions did not take place to operate in order not to occur in the fact that the operating expenses involved in financial liabilities. Loans are also available for non-physical damage.
Credit funds, fixed debts, salaries, accounts can be used to pay other documents affected and affected by the disaster. However, SBA, agricultural producers, farmers or ranchers are not in accordance with the existing declaration, except for small aquaculture enterprises.
Credit amounts may reach $ 2 million with interest rates for 4% and a 3.25% discount for small businesses and non-profit. Terms extend up to 30 years. No payment is required and interest is not increased until 12 months after the first payment. Credit terms and amounts shall be determined by SBA based on the financial position of each applicant.
Applicants may apply online in SBA.Gov/Disse or by telephone (800) 659-2955 in SBA Customer Service Center or by email DisasterComperTervice@sba.gov. Snow, hearing or accessing people with disabilities 7-1-1 can access the telecommunications relay services.
All filled credit applications must be submitted to SBA not later than June 2, 2025.