SBA offering injury loans to businesses affected by drought

The U.S. Small Business Administration (SBA) is offering federal Economic Injury Disaster Loans (EIDL) for businesses and nonprofits that were affected by the recent drought in Alabama.

The loans are aimed at small businesses, small agricultural cooperatives, small aquaculture businesses, and most private nonprofits that sustained economic losses from the drought in November. 

Loans are available in the following counties: 

Bibb, Calhoun, Chilton, Etowah, Greene, Hale, Shelby, St. Clair and Talladega, and the contiguous counties of Autauga, Blount, Cherokee, Clay, Cleburne, Coosa, Dallas, Dekalb, Elmore, Jefferson, Marengo, Marshall, Perry, Pickens, Sumter, and Tuscaloosa. 

"Working capital loans from the SBA are essential to eligible small businesses when the Secretary of Agriculture declares a disaster due to farmers' crop losses," said Francisco Sanchez Jr., associate administrator of the SBA Office of Disaster Recovery and Resilience. "These loans will help sustain rural economies when a disaster occurs." 

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A press release from SBA said that they cannot make loans to agricultural producers, farmers and ranchers apart from aquaculture enterprises, though nurseries are eligible. 

The deadline to apply is July 22, 2024. 

For more information or to apply, see sba.gov/disaster. More information can also be found here. 

Application forms can be obtained by calling the SBA's Customer Service Center at 800-659-2955. Those who are deaf, hard of hearing or have a speech disability may dial 7-1-1 to access telecommunications relay services or send an email to DisaterCustomerService@sba.gov.