The U.S. Small Business Administration (SBA) has announced the availability of federal disaster loans for small businesses and private nonprofit organizations in Nebraska affected by drought starting from April 1. These loans aim to support those who have suffered economic losses due to adverse weather conditions.
The declared disaster encompasses numerous counties in Nebraska including Banner, Blaine, Box Butte, Brown, Cherry, Cheyenne, Dawes, Garden, Grant, Hooker, Keya Paha, Kimball, Morrill, Scotts Bluff, Sheridan, Sioux, and Thomas. It also affects counties in South Dakota and Wyoming.
The SBA’s Economic Injury Disaster Loan (EIDL) program will provide assistance to small businesses, small agricultural cooperatives, nurseries, and private nonprofit organizations impacted by this disaster. "Through a declaration by the U.S. Secretary of Agriculture, SBA provides critical financial assistance to help communities recover," said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. "We’re pleased to offer loans to small businesses and private nonprofits impacted by these disasters."
These loans, which can reach up to $2 million, feature interest rates as low as 4% for small businesses and 3.625% for nonprofits. They will have terms up to 30 years, and no interest or payments are required until 12 months after the initial loan disbursement.
Interested applicants should apply online at sba.gov/disaster or contact SBA’s Customer Service Center at (800) 659-2955. The deadline for application submission is December 9.
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