The U.S. Small Business Administration (SBA) has announced the availability of low-interest federal disaster loans for small businesses and private nonprofit organizations in Oklahoma. These loans are intended to help offset economic losses due to drought conditions that began on March 18.
The affected areas include the Oklahoma counties of Beaver, Beckham, Custer, Dewey, Ellis, Harper, Major, Roger Mills, Texas, Woods, and Woodward. Additionally, certain counties in Kansas—Clark, Comanche, Meade, and Seward—and Texas—Hemphill, Lipscomb, Ochiltree, and Wheeler—are also covered under this declaration.
Through the SBA’s Economic Injury Disaster Loan (EIDL) program, eligible small businesses and private nonprofits can apply for financial assistance if they have experienced economic losses directly related to the drought. However, agricultural producers such as farmers and ranchers are not eligible for these loans unless they are involved in small aquaculture enterprises.
EIDLs aim to meet working capital needs caused by the disaster. These loans can be used for various purposes including paying fixed debts, payrolls, accounts payable and other bills that could not be paid due to the drought.
“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.”
Loan amounts can reach up to $2 million with interest rates as low as 4% for small businesses and 3.62% for private nonprofits. The terms can extend up to 30 years. Interest does not accrue nor are payments required until 12 months after the initial loan disbursement date. Loan amounts and terms are determined based on each applicant’s financial condition.
Interested parties can apply online at sba.gov/disaster or contact SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on disaster assistance options. Telecommunications relay services are available by dialing 7-1-1 for those who are deaf or hard of hearing.
Applications must be submitted no later than February 2, 2026.