SBA disaster loans available to business, private nonprofits impacted by drought

WISCONSIN – The U.S. Small Business Administration (SBA) recently announced the availability of low-interest federal disaster loans for eligible Wisconsin small businesses and private nonprofit organizations impacted by drought that began on Tuesday, Aug. 18.

Businesses in Lincoln, Ashland, Barron, Bayfield, Chippewa, Douglas, Forest, Iron, Langlade, Oneida, Price, Rusk, Sawyer, Taylor, Vilas and Washburn counties are eligible to apply for the Economic Injury Disaster Loans.

A release from the SBA said entities that are encouraged to apply include small businesses; private nonprofits and faith-based organizations; small agricultural cooperatives and nurseries; and small aquaculture enterprises.

According to the SBA, Economic Injury Disaster Loans can provide working capital assistance for operational expenses caused by the drought. Up to $2 million in loan funding can be sought, with interest rates as low as 4% for small businesses and 3.625% for private nonprofit organizations, loan terms up to 30 years and no interest or required payments during the first 12 months following disbursement.

The application deadline is June 15, 2027.

To apply, visit www.sba.gov/disaster.

For more information, contact the SBA National Support Network Center at 866-SBA-HELP or disastercustomerservice@sba.gov. For people who are deaf, hard of hearing or have a speech disability, dial 7-1-1 to access telecommunications relay services.