Small nonfarm businesses in 10 North Dakota counties and neighboring counties in Montana are now eligible to apply for low interest federal disaster loans from the U.S. Small Business Administration. These loans offset economic losses because of reduced revenues caused by drought in the following primary counties that began April 15, 2022.
Primary North Dakota counties: Billings, Divide, Golden Valley, McKenzie and Williams;
Neighboring North Dakota counties: Burke, Dunn, Mountrail, Slope and Stark;
Neighboring Montana counties: Fallon, Richland, Roosevelt, Sheridan and Wibaux.
“SBA eligibility covers both the economic impacts on businesses dependent on farmers and ranchers that have suffered agricultural production losses caused by the disaster and businesses directly impacted by the disaster,” Tanya Garfield US Director SBA Field Operations Center West said.
Small nonfarm businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size may qualify for Economic Injury Disaster Loans of up to $2 million to help meet financial obligations and operating expenses that could have been met had the disaster not occurred.
Businesses primarily engaged in farming or ranching are not eligible for SBA disaster assistance. Agricultural enterprises should contact the Farm Services Agency about the U.S. Department of Agriculture assistance made available by the Secretary’s declaration. However, nurseries are eligible for SBA disaster assistance in drought disasters.
Applicants may apply online, receive additional disaster assistance information and download applications at https://disasterloanassistance.sba.gov/ [disasterloanassistance.sba.gov].
Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email [email protected] for more information on SBA disaster assistance.
The deadline to apply for economic injury is Dec. 19, 2022.
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