Home Business SBA EIDLs Now Available to Small Businesses Affected by Drought

SBA EIDLs Now Available to Small Businesses Affected by Drought

by admin
0 views
SBA EIDLs Now Available to Small Businesses Affected by Drought

Published: May 2, 2022
by Lisa Price
In Small Business News
0

Small businesses operating in areas of the US where Secretaries of Agriculture have declared drought disasters are eligible for an Economic Injury Disaster Loan (EIDL loan).

The Small Business Administration recently added a number of western states where small businesses can qualify an EIDL loan due to drought conditions. You can search by state and county to see if you are in a declared drought disaster area.

Some of the states and counties are recent declarations, and some are continuing since 2021. You can still get an EIDL from a state drought disaster declaration from 2021.

EIDL Loans Available to Small Businesses Affected by Drought

The current list of states where small businesses can qualify for an EIDL loan due to drought are:

IdahoNorth DakotaNevadaOregonTexasUtahWashingtonNebraskaSouth DakotaHawaiiKansasLouisianaArizonaMississippiWyomingArkansasColoradoNew MexicoOklahomaCaliforniaIowaMontanaMinnesotaMaine

According to US drought monitoring from the National Weather Service, 47.5% of the US is currently experiencing drought conditions. It’s expected that additional counties and states will be added to the list.

Currently there are 25 states on the list. In the 2013 drought the list eventually had 34 states.

EIDL Amounts and Applications

EIDLs vary in amount and term. The largest a small business can get is a 30-year loan up to $2 million with an interest rate no higher than 4%.

Here’s how to apply:

Apply online via the SBA website or by phone, 800-659-2955.You’ll need to sign IRS 4506-T as part of the application. The form allows the IRS to send copies of your tax returns to the SBA.An SBA inspector will come to your business and meet with you.You’ll wait 2-4 weeks for a decision.If approved you’ll sign the paperwork, receive the money, and be linked to a SBA case manager.

Image: Depositphotos

More in: EIDL Loan

Editor’s Picks

Lisa Price is a freelance writer living in Barnesville, Pennsylvania. She has a B.A. in English with a minor in journalism from Shippensburg State College (Pennsylvania). She has worked as a trucking company dock supervisor, newspaper circulation district manager, radio station commercial writer, assistant manager of a veterinary pharmaceutical warehouse and newspaper reporter.

Source : SmallBizTrends

Related Articles

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

NEWS7.ASIA :SBA EIDLs Now Available to Small Businesses Affected by Drought
https://myster-jeepeg.com   https://e-lingerie.net   https://lesjardinsdinterieurs.com   https://4u7.org   https://shop.mgfetes.fr  
--
L’agenda-Calendrier Maisons de rêve 2013 *  Forum Novelties X73398 USA Jumbo Triangle Décoration, Multicolore, taille unique *  Asbestos Complaint Survives Motion to Dismiss | Goldberg Segalla – JDSupra *  Arcweg Homme Short de Bain Sport Bermuda Séchage Rapide Garçons Court de Plage Natation Casual avec Cordon Réglable… *  Lego Wear T-Shirt Anti-UV Bébé garçon *  * Eastpak Padded Pak’r Sac à Dos, 40 cm, 24 L, Bleu (Triple Denim) *  Cecotec Cave à vin 16 bouteilles. Capacité de 48L. Design porte FullCrystal, Effet miroir, Étagères en acier inoxydable… *  https://les-plaques-funeraires.com   https://www.cernodesign.com   https://chineselgz.com   https://www.lesjardinsdechampfleury.com/   https://photovideomag.com   https://www.echaussures.net/   https://materiel-de-sport.com   https://vinsdivins.fr   SBA EIDLs Now Available to Small Businesses Affected by Drought : news7

news7.asia SBA EIDLs Now Available to Small Businesses Affected by Drought