The US Small Business Administration (SBA) has announced the availability of low-interest federal disaster loans for small businesses and nonprofits in Whitman County. This initiative follows the drought that occurred on July 15, enabling access to the SBA’s Economic Injury Disaster Loan (EIDL) program.

Eligible entities include small businesses, small agricultural cooperatives, nurseries, and nonprofits, including those that are faith-based, which have experienced financial losses attributed to the drought.

Importantly, these loans can be obtained even if the organization did not sustain any physical damage. Loan amounts may reach up to $2 million, with interest rates set at a maximum of 4% for small businesses and 3.625% for nonprofits. Repayment terms can extend up to 30 years.

For more information and to apply for SBA disaster relief, visit the SBA’s official website.