SBA WAS State Drought Disaster Loans

Published on: Sep 5, 2024

On Sep. 3, SBA offered disaster loans to Washington small businesses.

  • SBA offered disaster assistance to Washington State small businesses following economic losses that occurred as a result of the drought that began on Jul. 2, 2024.
  • US Secretary of Agriculture designated an agricultural disaster on Aug. 26, 2024.
  • Eligibility
  • Aid is available in Washington primary county of Yakim and neighboring counties of Benton, Grant, King, Kittitas, Klickitat, Lewis, Pierce and Skamania, similarly affected.
  • Small non-farm businesses, agricultural cooperatives, businesses engaged in aquaculture may qualify for Economic Injury Disaster Loans (EIDL) of up to $2 million.
  • Also eligible for the loans are most private nonprofit organizations of any size.
  • To help meet expenses that could have been met if the disaster had not occurred.
  • Eligibility based on financial impact of disaster only and not on actual property damage
  • Application Deadlines
  • The deadline for Economic Injury Disaster Loan applications is Apr. 28, 2025.
Regulators
SBA
Entity Types
CNSM; Corp
Reference
PR WA 20605-01, 9/3/2024;
Functions
BCS; Compliance; Financial; Legal; Operations; Risk
Countries
United States of America
Category
State
N/A
Products
Corporate; Loan; Mortgage
Rule Type
Final
Regions
Am
Rule Date
Sep 3, 2024
Effective Date
Apr 28, 2025
Rule ID
224676
Linked to
Reg. Last Update
Sep 3, 2024
Report Section
US Consumer