Drought Impacted Small Businesses Eligible for Emergency Loans

Washington small businesses impacted by drought are eligible for federal disaster loans through the U.S. Small Business Administration.

Applications are due April 21, 2025.

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The disaster declaration covers Adams, Chelan, Douglas, Franklin, Ferry, Okanogan, and other counties throughout the state impacted by drought.

"Through a declaration by the U.S. Secretary of Agriculture, SBA provides critical financial assistance to help communities recover," said associate administrator of the Office of Disaster Recovery and REsilience at the SBA Chris Stallings. "We're pleased to offer loans to small businesses and private nonprofits impacted by these disasters."

The loan can be up to $2 million with interest rates as low as four percent for small businesses and three-and-a-quarter percent for private non-profits with terms up to 30 years. Interest does not accrue, and payments are not due until a year from the date of the first loan disbursement.

Small business and private non-profits are eligible even if the entity did not suffer physical damage. Loans may be used to pay fixed debts, payroll, accounts payable and other bills not paid due to the disaster.

To apply online, click here.