The U.S. Small Business Administration (SBA) has issued a reminder to eligible small businesses and private nonprofit organizations in Nebraska about the upcoming deadline of July 21, 2025, for applying for federal disaster loans. These loans are intended to mitigate economic losses from severe weather events that took place between May 20 and June 3, 2024.
The affected area under this declaration includes Howard County in Nebraska. The SBA's Economic Injury Disaster Loan (EIDL) program is available to eligible small businesses, small agricultural cooperatives, nurseries, and private nonprofits impacted by financial losses due to the disaster. However, the program does not extend to agricultural producers, farmers, or ranchers unless they are involved in aquaculture enterprises.
EIDLs can be used for working capital needs stemming from the disaster even if there was no physical damage incurred by the business or nonprofit. They can help cover fixed debts, payroll, accounts payable, and other expenses that could not be paid due to the disaster.
Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA stated: “SBA loans help eligible small businesses and private nonprofits cover operating expenses after a disaster, which is crucial for their recovery. These loans not only help business owners get back on their feet but also play a key role in sustaining local economies in the aftermath of a disaster.”
Loan amounts can reach up to $2 million with interest rates as low as 4% for small businesses and 3.25% for nonprofits. Terms can extend up to 30 years with no interest accruing or payments required until one year after the first loan disbursement. Loan amounts and terms are determined based on each applicant’s financial condition.
Applications can be submitted online at sba.gov/disaster. Additional information is available by calling SBA’s Customer Service Center at (800) 659-2955 or emailing disastercustomerservice@sba.gov. Telecommunications relay services are accessible via dialing 7-1-1 for individuals who are deaf or hard of hearing.
Completed loan applications must be submitted by July 21.
The U.S. Small Business Administration serves as a primary resource and support system for American entrepreneurs and small business owners facing challenges related to starting or growing their ventures or recovering from declared disasters.