On Aug. 8, SBA disaster loan program activated in VA by drought.
SBA reported Economic Injury Disaster Loans (EIDLs) are available in VA for small businesses, agricultural cooperatives, aquaculture businesses, most private nonprofits.
Assistance available to aid with economic losses due to drought that began Jul. 16.
Eligibility
Declaration includes primary counties of Albemarle, Augusta, Clarke, Fauquier, Frederick, Greene, Highland, Loudoun, Madison, Page, Rappahannock, Rockingham.
As well as, Shenandoah, Warren and Waynesboro and the adjacent counties of Bath, Buckingham, Charlottesville, Culpeper, Fairfax County, Fluvanna, Harrisonburg, Louisa.
And Nelson, Orange, Prince William, Rockbridge, Stafford, Staunton and Winchester.
The counties of Frederick, Montgomery and Washington in MD; and Berkeley, Hampshire, Hardy, Jefferson, Morgan, Pendleton and Pocahontas in West Virginia.
Available to eligible farm-related and non farm-related entities that suffered financial losses as a direct result of this disaster, and nurseries for losses due to drought.
Disaster loans are not available for agricultural producers, farmers, and ranchers
Loan amounts of up to $2mn, based on each applicant’s financial condition, and eligibility based on the size of the applicant, type of activity and its financial resources.
Loans to be used to pay fixed debts, payroll, accounts payable, other bills that could have been paid had disaster not occurred, should not be used to replace sales/profits.
Application Due Dates
Completed loan applications must be submitted to SBA no later than Mar. 31, 2025.
