TUCSON, Ariz. — According to Pima County, the U.S. Small Business Administration (SBA) announced the availability of low interest federal disaster loans to small businesses and private nonprofit (PNP) organizations in Arizona who sustained economic losses due to drought beginning Jan. 1.
The disaster declaration includes Pima County along with several other counties in Arizona.
Under this declaration, SBA’s Economic Injury Disaster Loan (EIDL) program is available to small businesses, small agricultural cooperatives, nurseries, and PNPs with financial losses directly related to the disaster.
The SBA is unable to provide disaster loans to agricultural producers, farmers, or ranchers, except for small aquaculture enterprises.
The loan amount can be up to $2 million with interest rates as low as 4% for small businesses and 3.625% for PNPs, with terms up to 30 years.
To apply online, visit sba.gov/disaster.
