Application Deadline Approaching for Drought Relief Loans for Small Businesses

FORT WORTH, Texas (KSWO) – Tanya N. Garfield, Director of Disaster Site Operations Center West, US Small Business Administration, said today.

December 8 is the deadline for small, nonfarm businesses in 76 Oklahoma counties and adjacent states of Arkansas, Colorado, Kansas, New Mexico and Texas to apply for SBA federal disaster loans for economic damage. is.

These low-interest loans will offset the economic losses due to reduced revenues due to the drought that began on November 1, 2021.

Eligible counties are:

Major Oklahoma Counties: Alfalfa, Atoka, Beaver, Beckham, Blaine, Bryan, Caddo, Canadian, Carter, Choctaw, Cimarron, Cleveland, Cole, Comanche, Cotton, Craig, Creek, Custer, Dewey, Ellis, Garfield, Garvin, Grady , Grant, Greer, Harmon, Harper, Hughes, Jackson, Jefferson, Johnston, Kay, Kingfisher, Kiowa, Le Flore, Lincoln, Logan, Love, Major, Marshall, Mays, McClain, McCarten, Murray, Noble, Nowata, Oklahoma , Osage, Pawnee, Payne, Pittsburgh, Pontotoc, Pottawatomie, Pushmataha, Roger Mills, Rogers, Seminoles, Stevens, Texas, Tillman, Tulsa, Wagoner, Washington, Ouachita, Woods, Woodward.

Adjacent Oklahoma Counties: Cherokee, Delaware, Haskell, Latimer, McIntosh, Muskogee, Ochhusky, Ocmulgee, Ottawa, Sequoia.

Nearby Arkansas counties: Little River, Polk, Scott, Sebastian, Sevier.

Adjacent Colorado County: Baka;

Adjacent Kansas Counties: Barbour, Chautauqua, Cherokee, Clarke, Comanche, Cowley, Harper, Lovett, Meade, Montgomery, Morton, Seward, Stevens, Sumner.

Adjacent New Mexico County: Union.

Adjacent Texas Counties: Bowie, Childress, Clay, Collingsworth, Cook, Durham, Fannin, Grayson, Hansford, Hardeman, Hemphill, Lamar, Lipscomb, Montague, Ochiltree, Red River, Sherman, Wheeler, Wichita, Wilberger.

According to Tanya N. Garfield, director of the US Small Business Administration’s Disaster Site Operations Center West, small nonfarm businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most of all sizes of private nonprofit organizations can apply for the largest economic loss disaster loan. He up to $2 million to meet working capital needs caused by the disaster.

“Economic Injury Disaster Loans can be used to pay fixed debt, salaries, accounts payable, and other bills that cannot be paid due to the effects of the disaster,” Garfield said. “SBA eligibility covers both the economic impact for businesses dependent on farmers and ranchers who have suffered agricultural production losses caused by the disaster and businesses directly affected by the disaster. Economic damages assistance is available regardless of whether the applicant suffered property damage.”

The interest rate is 2.83% for corporations and 1.875% for private non-profits with terms up to 30 years. Loan amounts and terms are set by SBA and are based on each applicant’s financial situation.

Applicants can apply online, receive additional disaster assistance information, and download the application. https://disasterloanassistance.sba.gov/Applicants can also find out more about SBA Disaster Assistance by calling SBA’s Customer Service Center at (800) 659-2955 or by emailing disastercustomerservice@sba.gov.

If you are deaf, hard of hearing, or speech impaired, please dial 7-1-1 to use the relay service. Completed applications should be mailed to US Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

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