The U.S. Small Business Administration (SBA) is reminding small businesses and private nonprofit organizations in Pennsylvania of the approaching deadline to apply for federal disaster loans. These low-interest loans aim to offset economic losses caused by the drought that began on October 1, 2024.
This disaster declaration affects several counties in Pennsylvania, including Allegheny, Beaver, Fayette, Greene, Washington, and Westmoreland. It also covers Brooke, Hancock, Marshall, and Ohio counties in West Virginia.
The SBA’s Economic Injury Disaster Loan (EIDL) program is available to small businesses, small agricultural cooperatives, nurseries, and private nonprofits with financial losses directly related to the drought. However, agricultural producers such as farmers or ranchers are not eligible unless they operate small aquaculture enterprises.
EIDLs provide working capital for needs arising from the disaster. The funds can be used to pay fixed debts, payrolls, accounts payable, and other bills that could not be covered due to the drought.
“Through a declaration by the U.S. Secretary of Agriculture, SBA provides critical financial assistance to help communities recover,” stated Chris Stallings from 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.”
Loans can reach up to $2 million with interest rates as low as 4% for small businesses and 3.25% for nonprofits. Terms extend up to 30 years with no interest accrual or payments required until 12 months after the first disbursement. The SBA determines loan amounts based on each applicant’s financial situation.
Applications can be submitted online at sba.gov/disaster or by contacting SBA’s Customer Service Center at (800) 659-2955 or emailing disastercustomerservice@sba.gov for further assistance. For individuals who are deaf or hard of hearing or have a speech disability, telecommunications relay services can be accessed by dialing 7-1-1.
The deadline for submitting economic injury applications is June 9, 2025.