SBA Offers Relief to Washington Small Businesses and Private Nonprofits Affected by Drought

The U. S. Small Business Administration (SBA) is providing low-interest disaster loans to small businesses and private nonprofits in Washington impacted by drought, effective from July 29. The disaster declaration encompasses multiple counties, including King, Yakima, and Snohomish. The Economic Injury Disaster Loan (EIDL) program allows eligible organizations to secure funds for working capital needs, even without physical damage.

These loans can cover fixed debts, payroll, and other necessary expenses. Amounts can reach up to $2 million, with interest rates set at 4% for businesses and 3. 625% for nonprofits, alongside a 12-month deferment on payments. Chris Stallings of the SBA emphasized that the loans are crucial for community recovery following the disaster. Applications must be completed and submitted by April 6, 2026, to ensure eligibility for assistance.

The SBA continues to support small businesses as a vital resource for economic recovery in the region.