SBA Economic Injury Disaster Loans available to Washington small businesses

Declaration Number:   16500
Primary  Counties:   Benton 
Neighboring Counties:   Franklin, Grant, Klickitat, Walla Walla and Yakima in Washington; and Morrow and Umatilla in Oregon
Incident Type:   Drought 
Incident Date:   Beginning March 31, 2020
Deadline:   2/8/21
 
Declaration Number:   16506
Primary  Counties:   Chelan, Douglas, Grant, Kittitas, Klickitat, Okanogan and Yakima
Neighboring Counties:   Adams, Benton, Ferry, Franklin, King, Lewis, Lincoln, Pierce, Skagit, Skamania, Snohomish and Whatcom in Washington; and Gilliam, Hood River, Morrow, Sherman and Wasco in Oregon
Incident Type:   Drought
Incident Date:   Beginning April 1, 2020
Deadline:   2/11/21

“SBA eligibility covers both the economic impacts on businesses dependent on farmers and ranchers that have suffered agricultural production losses caused by the disasters and businesses directly impacted by the disasters,” Garfield said.

Small nonfarm businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size may qualify for Economic Injury Disaster Loans of up to $2 million to help meet financial obligations and operating expenses which could have been met had the disasters not occurred.

“Eligibility for these loans is based on the financial impact of the disasters only and not on any actual property damage. These loans have an interest rate of 3.75 percent for businesses and 2.75 percent for private nonprofit organizations, a maximum term of 30 years, and are available to small businesses and most private nonprofits without the financial ability to offset the adverse impact without hardship,” Garfield said.

By law, SBA makes economic injury available when the U.S. Secretary of Agriculture designates an agricultural disaster. The Secretary declared the declarations WA 16500 on June 8, 2020, and WA 16506 on June 11, 2020.

Businesses primarily engaged in farming or ranching are not eligible for SBA disaster assistance. Agricultural enterprises should contact the Farm Services Agency about the U.S. Department of Agriculture assistance made available by the Secretary’s declaration. However, in drought disasters nurseries are eligible for SBA disaster assistance.  

Applicants may apply online, receive additional disaster assistance information and download applications at https://disasterloanassistance.sba.gov/. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. Individuals who are deaf or hard of hearing may call (800) 877-8339. Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX  76155.