The U.S. Small Business Administration (SBA) has issued a reminder to eligible private nonprofit organizations in Idaho about the upcoming deadline of March 10, 2025, for applying for federal disaster loans. These loans are intended to help offset economic losses caused by severe weather events that took place on April 14-15, 2024.
The affected areas include the counties of Idaho, Lewis, and Shoshone. Under this disaster declaration, private nonprofits that provide governmental-type services and experienced financial setbacks due to the storm can apply for Economic Injury Disaster Loans (EIDL).
These loans are available to cover working capital needs resulting from the disaster. They can be used for expenses such as fixed debts, payroll, accounts payable, and other bills that could have been settled if not for the disaster. The loan amount can reach up to $2 million with an interest rate of 3.25%, repayable over a period of up to 30 years. Importantly, interest does not accrue nor are payments required until one year after the first loan disbursement.
Interested applicants can apply online at SBA.gov/disaster or contact SBA’s Customer Service Center at (800) 659-2955 or via email at disastercustomerservice@sba.gov for further assistance. Telecommunications relay services are available by dialing 7-1-1 for those who are deaf or hard of hearing.
Completed applications must be submitted by March 10.