Disaster Loans Accessible to Small Businesses Affected by Ohio Drought

September 10, 2024

Disaster Loans Accessible to Small Businesses Affected by Ohio Drought

Ohio small businesses affected by the drought that began on August 20, 2024, can receive federal Economic Injury Disaster Loans (EIDLs) through the Small Business Administration. The EIDL program is available to eligible farm-related and non-farm-related entities that suffered financial losses as a direct result of this drought. The loan amount can be up to $2 million with interest rates of 4% for small businesses, with terms up to 30 years. Interest does not accrue, and payments are not due, until 12 months from the date of the first loan disbursement. Small businesses are eligible for the loans in the primary counties of Athens, Belmont, Fairfield, Fayette, Gallia, Guernsey, Harrison, Highland, Hocking, Jackson, Jefferson, Madison, Monroe, Morgan, Muskingum, Noble, Perry, Pickaway, Pike, Ross, Vinton and Washington in Ohio, and the adjacent counties of Adams, Brown, Carroll, Champaign, Clark, Clinton, Columbiana, Coshocton, Franklin, Greene, Lawrence, Licking, Meigs, Scioto, Tuscarawas and Union in Ohio. To apply online visit SBA.gov/disaster. Learn more information here. Applications are due to the Small Business Administration no later than April 28, 2025.

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Uncategorized

State:

Ohio

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