The U.S. Small Business Administration (SBA) has announced low-interest federal disaster loans for small businesses and private nonprofit organizations in Florida impacted by the drought that began on February 11, 2025. This assistance is part of the SBA's Economic Injury Disaster Loan (EIDL) program aimed at providing financial aid to eligible entities affected by this natural disaster.
The drought's disaster declaration encompasses the primary counties of Glades, Hendry, Martin, and Palm Beach, along with adjacent counties including Broward, Charlotte, Collier, DeSoto, Highlands, Lee, Okeechobee, and St. Lucie.
"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."
Eligible entities such as small businesses, small agricultural cooperatives, nurseries, and private nonprofit organizations can access these loans to cover working capital needs. These funds can be allocated toward fixed debts, payroll, accounts payable, and other obligations that couldn't be met due to the drought. The SBA, however, does not extend disaster loans to agricultural producers, farmers, or ranchers, except for aquaculture ventures.
Loan amounts can reach up to $2 million, with interest rates set at 4% for small businesses and 3.625% for nonprofit entities, and terms can extend up to 30 years. Interest does not begin to accrue, and payments are not required until 12 months after the first disbursement. Loan amounts and terms are determined based on the financial condition of the applicant.
Interested parties can apply online at sba.gov/disaster. For further details on SBA disaster assistance, individuals may call the SBA Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov. Telecommunications relay services can be accessed by dialing 7-1-1 for those who are deaf, hard of hearing, or have a speech disability.
The deadline to submit economic injury applications is December 8, 2025.