Small nonfarm businesses in 16 counties in Colorado and neighboring counties in Utah are now eligible to apply for low interest federal disaster loans from the U.S. Small Business Administration due to drought conditions that began Oct. 3. This event was declared as a disaster by the Secretary of Agriculture Dec. 4.
Please see attached materials and those at this link for Small nonfarm businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations in the following counties:
- Primary Counties: Mesa, Mineral and Saguache
- Contiguous Counties: Alamosa, Archuleta, Chaffee, Custer, Delta, Fremont, Garfield, Gunnison, Hinsdale, Huerfano,
Montrose, Pitkin and Rio Grande
- Contiguous Counties: Grand and San Juan
I was hoping your organization can share this information on your website as well as via any email or social media channels about benefits available to Small nonfarm businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations in these counties who suffered economic impact due to drought conditions that began June 1 and continues. The economic injury deadline is August 5, 2024.
Background information (and attached to share with your community)
On Dec. 4, 2023, a disaster declaration was issued by the Secretary of Agriculture.
Those eligible for Economic Injury Disaster Loans are below:
- Economic Injury Disaster Loans (EIDL) – Working capital loans to help small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private, non-profit organizations of all sizes meet their ordinary and necessary financial obligations that cannot be met as a direct result of the disaster. These loans are intended to assist through the disaster recovery period. Loan rates are as low as 4 percent for businesses and small agricultural cooperatives and 2.375 percent for private non-profit organizations and are typically 30-year loans. Shorter terms are available. The economic injury deadline is August 5, 2024.
NOTE: Businesses primarily engaged in farming or ranching are not eligible for SBA disaster assistance. Agricultural enterprises should contact the Farm Services Agency of the U.S. Department of Agriculture regarding any assistance made available by the Secretary’s declaration. However, nurseries are eligible for SBA disaster assistance in drought disasters.
There is no cost or obligation to apply, and eligibility is based on a case-by-case review for each applicant.
Please contact me if you have questions or need more information.
Public Information Officer
Field Operations Center-West
Office of Disaster Recovery and Resilience
U.S. Small Business Administration