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Small Businesses in Nebraska, Kansas, and Missouri Eligible for Federal Disaster Loans

Small, non-farm businesses in Nebraska, Kansas, and Missouri now have the opportunity to apply for low interest federal disaster loans from the U.S. Small Business Administration (SBA). This announcement was made by Director Jeffrey Lusk of SBA’s Disaster Field Operations Center-West. The purpose of these loans is to offset economic losses caused by drought, specifically in the primary counties listed below.

Eligible Counties:

• Nebraska counties: Gage, Jefferson, Pawnee, and Thayer;
• Kansas counties: Cloud, Marshall, Miami, and Washington;
• Neighboring Kansas counties: Anderson, Clay, Douglas, Franklin, Jewell, Johnson, Linn, Mitchell, Nemaha, Ottawa, Pottawatomie, Republic, and Riley;
• Missouri counties: Bates and Cass.

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In addition to small non-farm businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private nonprofit organizations of any size may qualify for Economic Injury Disaster Loans of up to $2 million. These loans aim to help businesses meet financial obligations and operating expenses that could have been met without the disaster’s impact. It is important to note that eligibility for these loans is based solely on the financial impact of the disaster and not on any actual property damage.

The interest rates for these loans are 4 percent for businesses and 2.375 percent for private nonprofit organizations. The loans have a maximum term of 30 years and are available to small businesses and most private nonprofits that do not have the financial ability to offset the adverse impact without hardship. Additionally, interest does not begin to accrue until 12 months from the date of the initial disaster loan disbursement, and repayment begins 12 months from the date of the first disbursement.

It is important to highlight that businesses primarily engaged in farming or ranching are not eligible for SBA disaster assistance. Agricultural enterprises should reach out to the Farm Services Agency for assistance provided by the U.S. Department of Agriculture. However, nurseries are eligible for SBA disaster assistance in drought disasters.

Applicants can conveniently apply online, access additional disaster assistance information, and download applications at https://disasterloanassistance.sba.gov/. For further information on SBA disaster assistance, applicants can contact SBA’s Customer Service Center at (800) 659-2955 or email [email protected]. Telecommunications relay services are available for individuals who are deaf, hard of hearing, or have a speech disability by dialing 7-1-1. Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

The deadline for economic injury applications is April 22, 2024.

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