SBA Tennessee Disaster Aid Available

On Dec. 1, SBA made disaster aid available to TN drought victims.

  • SBA reported that it made Economic injury disaster loans (EIDLs) available to small business victims of damage caused by the Tennessee drought that began on Nov. 14.
  • Eligibility
  • EIDLs are available to small businesses, agricultural cooperatives, businesses engaged in aquaculture, and most private nonprofits with economic losses due to the drought.
  • These loans are made available to eligible farm-related as well as nonfarm-related entities that suffered financial losses as a direct result of this Tennessee disaster.
  • Eligibility based on the size of the applicant, type of activity and its financial resources.
  • The disaster declaration encompasses the counties of Benton, Campbell, Carroll, Crockett, Gibson, Grainger, Humphreys, Putnam, Scott and Union in Tennessee.
  • Also the contiguous TN counties of Anderson, Claiborne, Cumberland, Dekalb, Dickson, Dyer, Fentress, Hamblen, Hancock, Hawkins, Haywood, Henderson, and Henry.
  • Further eligible TN counties include Hickman, Houston, Jackson, Jefferson, Knox, Lauderdale, Madison, Morgan, Obion, and other TN and KNY counties as listed in order.
  • Capital Loans
  • These working capital loans may be used to pay fixed debts, payroll, accounts payable, and other bills which would have been paid had the natural disaster not occurred.
  • Application Deadlines
  • Completed loan applications must be submitted to SBA not later than Jul. 22, 2024.

Regulators SBA
Entity Types CNSM; Corp
Reference PR 24-105, 12/1/2023
Functions BCS; Compliance; Legal; Operations; Reporting
Countries United States of America
Products Corporate; Loan
Regions Am
Rule Type Final
Rule Date 12/1/2023
Effective Date 7/22/2024
Rule Id 193040
Linked to N/A
Reg. Last Update 12/1/2023
Report Section US Investment

Last substantive update on 12/03/2023