RAPID CITY, S.D. — The U.S. Small Business Administration is offering low-interest federal disaster loans to eligible small businesses and private nonprofit organizations impacted by ongoing drought conditions that began Aug. 11.
Through the Economic Injury Disaster Loan program, qualifying businesses can receive up to $2 million in working capital assistance to help cover operating expenses affected by the disaster. Interest rates are as low as 4% for small businesses and 3.625% for private nonprofits, with repayment terms of up to 30 years. No payments or interest are due during the first 12 months after loan disbursement.
Eligible applicants include small businesses, private nonprofit and faith-based organizations, small agricultural cooperatives, nurseries, and aquaculture enterprises.
The disaster declaration includes several South Dakota counties, including Pennington, Butte, Campbell, Corson, Dewey, Haakon, Harding, Meade, Perkins, Stanley, Walworth, and Ziebach. Eligible counties in neighboring Montana and North Dakota are also included.
Applications must be submitted by May 3, 2027, through sba.gov/disaster. Businesses seeking assistance can contact the SBA Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information.
Comments