29 Idaho counties eligible for disaster loans
Idaho (KMVT/KSVT) – Small nonfarm businesses in 29 counties in Idaho are eligible for disaster relief loan funds due to drought.
The funds will offset revenue losses caused by the drought in primary counties that began January 1, 2022.
In the Magic Valley region, Cassia, Camas, Gooding, Jerome, Minidoka and Twin Falls counties are all eligible.
“SBA (Small Business Administration) eligibility covers both economic impacts on businesses dependent on farmers and ranchers who suffered agricultural production losses caused by the disaster and businesses directly affected by the disaster,” said SBA Director Tanya N. Garfield.
Small non-farm businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private non-profit organizations of any size are eligible for loans of up to $2 million.
“Eligibility for these loans is based solely on the financial impact of the disaster and not on the actual property damage. These loans have an interest rate of 2.83% for businesses and 1.875% for private organizations not-for-profit, a maximum term of 30 years and are available to small businesses and most private non-profit organizations without the financial capacity to offset the negative impact without hardship,” Garfield said.
Businesses primarily engaged in agriculture or ranching are not eligible for this funding.
You can apply online here.
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