SBA Montana Drought Disaster Loans

Published on: Jun 25, 2024

On Jun. 20, SBA made disaster loans available to MT small businesses.

  • SBA reported Economic injury disaster loans (EIDLs) are now available to certain Montana and Idaho small businesses impacted by drought that began on Jun. 1, 2024.
  • Eligibility
  • EIDLs offset economic losses due to reduced revenues caused by drought.
  • Covers primary Montana county of Mineral; neighboring Montana counties of Missoula and Sanders; and neighboring Idaho counties of Clearwater and Shoshone.
  • Small nonfarm businesses, agricultural cooperatives, businesses engaged in aquaculture and most private nonprofits of any size may qualify for EIDLs.
  • EIDLs of up to $2 million are intended to help meet businesses' financial obligations and operating expenses which could have been met had the disaster not occurred.
  • Eligibility for EIDLs based on financial impact only and not on actual property damage.
  • Deadline
  • Completed applications for EIDLs must be submitted to SBA by Feb. 18, 2025.
Regulators
SBA
Entity Types
CNSM; Corp
Reference
PR MT 20405-01, 6/20/2024
Functions
BCS; Compliance; Operations; Reporting; Research
Countries
United States of America
Category
State
N/A
Products
Corporate; Loan
Rule Type
Final
Regions
Am
Rule Date
Jun 20, 2024
Effective Date
Feb 18, 2025
Rule ID
216488
Linked to
N/A
Reg. Last Update
Jun 20, 2024
Report Section
US Investment