SBA Disaster Loans for MS Drought

On Nov. 27, SBA reported disaster loan availability for MS drought.

  • SBA made Economic injury disaster loans (EIDLs) available to help Mississippi businesses that suffered economic losses due to drought that began on Nov. 14, 2023.
  • Eligibility
  • EIDLs are available for small businesses, agricultural cooperatives, aquaculture businesses, most private nonprofits, not for agricultural producers, farmers, ranchers.
  • Nurseries are eligible to apply for EIDLs for losses caused by drought conditions.
  • The declaration includes Noxubee County, and contiguous counties of Kemper, Lowndes, Oktibbeha, Winston in Mississippi; Pickens and Sumter counties in Alabama.
  • Loans
  • The EIDLs are available from SBA to eligible farm-related and nonfarm-related entities that suffered financial losses as a direct result of the Mississippi drought.
  • Further, these working capital loans may be used to pay fixed debts, payroll, accounts payable, and other bills that could have been paid had the disaster not occurred.
  • Application Deadlines
  • Completed EIDL applications must be submitted to SBA no later than Jul. 22, 2024.

Regulators SBA
Entity Types CNSM; Corp
Reference PR 24-099, 11/27/2023;
Functions BCS; Compliance; Financial; Legal; Operations; Reporting
Countries United States of America
Products Corporate; Loan
Regions Am
Rule Type Final
Rule Date 11/27/2023
Effective Date 7/22/2024
Rule Id 192755
Linked to N/A
Reg. Last Update 11/27/2023
Report Section US Investment

Last substantive update on 11/30/2023