On Sep. 26, SBA reported economic injury loans for SD dought.
SBA made available Economic injury disaster loans (EIDLs) to South Dakota small businesses suffering economic losses due to the drought beginning on Jul. 25, 2023.
Loans Available
EIDLs available for small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, most private nonprofit organizations with economic losses.
Primary SD counties are Brookings, Grant and Roberts; Neighboring South Dakota counties: Codington, Day, Deuel, Hamlin, Kingsbury, Lake, Marshall and Moody.
Assistance also available in neighboring MN counties of Big Stone, Lac Qui Parle, Lincoln, Pipestone and Traverse; and ND counties of Richland and Sargent.
Loan Eligibility
Loans of up to $2 million to help meet financial obligations and operating expenses which could have been met had the disaster not occurred are available.
Eligibility based on financial impact of disaster only, not on actual property damage.
Businesses primarily engaged in farming or ranching not eligible for SBA disaster aid.
Application Deadline
Completed EIDL applications must be received by May 20, 2024.
