The U.S. Small Business Administration (SBA) has announced that federal disaster loans with low interest rates are now available for small businesses and private nonprofit organizations in Idaho that suffered economic setbacks due to the Highway 95 landslide and closure beginning on March 16. This move comes after a disaster declaration was issued in response to a request from Governor Brad Little on April 18.
The declaration includes the Idaho counties of Ada, Adams, Boise, Canyon, Custer, Gem, Idaho, Lemhi, Payette, Valley, and Washington, along with the Oregon counties of Baker and Wallowa.
SBA's Economic Injury Disaster Loan (EIDL) program will support eligible small businesses, small agricultural cooperatives, nurseries, and nonprofits that incurred financial losses because of the disaster. It's important to note that the program excludes agricultural producers, farmers, and ranchers, except for aquaculture enterprises.
The EIDLs can address working capital needs resulting from the disaster, even if the business didn't incur physical damage. They can be used to cover expenses like fixed debts, payroll, accounts payable, and other bills that remain unpaid due to the event.
Loan amounts can reach up to $2 million, with interest rates as low as 4% for small businesses and 3.625% for nonprofits, and terms extending up to 30 years. Interest does not accrue, and payments are deferred for 12 months from the date of the first loan disbursement. The SBA determines loan amounts and terms based on the applicant’s financial status.
Starting Wednesday, April 23, SBA representatives will assist at a Virtual Business Recovery Center regarding its disaster loan program, the application process, and help with applications. The center will operate Monday through Friday, from 8 a.m. to 4:30 p.m. Pacific Time. The SBA encourages applicants to apply promptly, with applications processed in the order received.
To apply, visit sba.gov/disaster or contact the SBA Customer Service Center at (800) 659-2955 or disastercustomerservice@sba.gov. For telecommunications relay services, dial 7-1-1. The deadline for economic injury applications is January 21, 2026.
SBA remains committed to aiding those affected by declared disasters, providing resources and support for recovery and continuity.