Small nonfarm businesses in 15 Utah counties and neighboring counties in Idaho are now eligible to apply for low-interest federal disaster loans from the U.S. Small Business Administration, announced Director Tanya N. Garfield of SBA’s Disaster Field Operations Center-West. These loans offset economic losses because of reduced revenues caused by drought.
The loans are available in primary Utah counties Cache, Morgan, Utah and Wasatch and neighboring counties Box Elder, Carbon, Davis, Duchesne, Juab, Rich, Salt Lake, Sanpete, Summit, Tooele and Weber. They are also available in Idaho counties Bear Lake, Franklin and Oneida.
“Utah has been suffering a terrible drought, and it is not just this year,” said Marla Trollan, Utah SBA district director. Gov.Cox recently issued a state of emergency to address the drought and the U.S. secretary of agriculture has designated the drought as an agricultural disaster. With an official disaster declaration, SBA EIDL loans are now available for small nonfarm businesses who have been negatively affected.”
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.
By law, SBA makes Economic Injury Disaster Loans available when the U.S. secretary of agriculture designates an agricultural disaster. The secretary declared this disaster on April 18.
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. The deadline to apply for economic injury is Dec. 19.