Washington businesses impacted by drought emergency can now apply for federal loans

Local businesses in Whatcom County can apply for federal low-interest loans in response to a drought emergency declared on June 5. The Small Business Administration offers Economic Injury Disaster Loans, which can extend up to $2 million for small businesses, nurseries, and agricultural co-ops facing financial challenges. Applications are due by April 6 and can be completed online. However, farmers, ranchers, and agricultural producers are not eligible for this assistance. This initiative aims to mitigate the financial damage caused by the drought, helping businesses cover payroll and certain debts.

The loans serve as a critical lifeline for enterprises struggling to maintain operations amid reduced customer bases. Local businesses are encouraged to act quickly to secure funding. The drought's impact on the region emphasizes the need for such financial resources.