SBA Economic Injury
Disaster Loans Available to Idaho Small Businesses
SACRAMENTO, Calif. – Small, nonfarm businesses
in 22 Idaho counties and neighboring counties in Montana, Nevada,
Utah and Wyoming are now eligible to apply for low-interest
federal disaster loans from the U. S. Small Business Administration
(SBA). These loans offset economic losses because of reduced
revenues caused by the excessive rain, flash flooding and hail
that occurred July 25 - September 1, 2014, in the following
primary counties, announced Tanya N. Garfield, Director of SBA’s
Disaster Field Operations Center - West.
Primary Idaho counties: Bingham, Blaine, Bonneville,
Cassia, Clark, Jefferson, Minidoka and Power;
Neighboring Idaho counties: Bannock, Butte, Camas,
Caribou, Custer, Elmore, Fremont, Jerome, Lemhi, Lincoln, Madison,
Oneida, Teton and Twin Falls;
Neighboring Montana county: Beaverhead;
Neighboring Nevada county: Elko;
Neighboring Utah county: Box Elder;
Neighboring Wyoming counties: Lincoln and Teton.
“SBA eligibility covers both the economic impacts
on businesses dependent on farmers and ranchers that have suffered
agricultural production losses caused by the disaster and businesses
directly impacted by the disaster,” Garfield said.
Small, nonfarm businesses, small agricultural cooperatives,
small businesses engaged in aquaculture and most private nonprofit
organizations of any size may qualify for Economic Injury Disaster
Loans (EIDLs) of up to $2 million to help meet financial obligations
and operating expenses which could have been met had the disaster
“Eligibility for these loans is based on the
financial impact of the disaster only and not on any actual
property damage. These loans have an interest rate of 4 percent
for businesses and 2.625 percent for private nonprofit organizations,
a maximum term of 30 years, and are available to small businesses
and most private, nonprofits without the financial ability to
offset the adverse impact without hardship,” Garfield
By law, SBA makes EIDLs available when the U. S. Secretary
of Agriculture designates an agricultural disaster. Secretary
Tom Vilsack declared this disaster on October 1, 2014.
Businesses primarily engaged in farming or ranching
are not eligible for SBA disaster assistance. Agricultural enterprises
should contact the Farm Services Agency (FSA) about the U. S.
Department of Agriculture (USDA) assistance made available by
the Secretary’s declaration.
Applicants may apply online using the Electronic Loan
Application (ELA) via SBA’s secure Web site at https://disasterloan.sba.gov/ela.
Disaster loan information and application forms are
also available from SBA’s Customer Service Center by calling
(800) 659-2955 or e-mailing firstname.lastname@example.org.
Individuals who are deaf or hard-of-hearing may call (800) 877-8339.
For more information about SBA’s disaster assistance programs,
The deadline to apply for these loans is June 1, 2015.