The U.S. Small Business Administration (SBA) is reminding small businesses and nonprofit organizations in Oregon about the approaching deadline to apply for federal disaster loans. These loans are intended to mitigate economic losses caused by the Microwave Tower Fire, which occurred from July 22 to August 11, 2024. The deadline for applications is July 29, 2025.
This disaster declaration includes the Oregon counties of Clackamas, Gilliam, Hood River, Jefferson, Marion, Sherman, Wasco, and Wheeler, as well as Klickitat County in Washington.
The SBA's Economic Injury Disaster Loan (EIDL) program offers assistance to eligible small businesses, agricultural cooperatives, nurseries, and private nonprofit organizations affected financially by this disaster. However, it does not extend to agricultural producers such as farmers or ranchers unless they are involved in aquaculture enterprises.
These EIDLs provide working capital for businesses that have suffered economic injury due to the disaster. They can be used for fixed debts, payroll obligations, accounts payable, and other expenses that could not be covered because of the fire's impact.
"SBA loans help eligible small businesses cover operating expenses after a disaster, which is crucial for their recovery," stated Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. "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."
Eligible applicants can receive up to $2 million with interest rates starting at 4% for small businesses and 3.25% for private nonprofits. The loan terms can extend up to 30 years with no interest accruing or payments required until one year after the first disbursement. Loan amounts and terms are determined 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 via email at disastercustomerservice@sba.gov. Telecommunications relay services are available by dialing 7-1-1 for those who are deaf or hard of hearing.
All completed loan applications must be submitted by July 29.
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