Economic Injury Disaster loans available for AR, MO small businesses due to drought

The U.S. Small Business Administration announced this week small nonfarm businesses in 75 Arkansas counties and neighboring counties in Missouri, are now eligible to apply for low-interest federal disaster loans from the SBA. These loans offset economic losses because of reduced revenues caused by excessive heat and drought that began on May 30, 2022.
Local Arkansas counties include: Fulton, Izard, Stone, Boone and Newton.Local neighboring Arkansas counties include: Baxter, Marion and Searcy.

Local neighboring Missouri counties include: Ozark, Howell and Taney.

Other primary Arkansas counties include: Arkansas, Benton, Carroll, Chicot, Clay, Cleburne, Cleveland, Columbia, Conway, Craighead, Crawford, Crittenden, Cross, Dallas, Desha, Faulkner, Franklin, Garland, Grant, Hot Spring, Howard, Independence, Jackson, Jefferson, Johnson, Lafayette, Lawrence, Logan, Lonoke, Madison, Miller, Ouachita, Perry, Pike, Poinsett, Pope, Prairie, Pulaski, Randolph, Saint Francis, Saline, Scott, Sebastian, Sharp, Union, Washington, White, Woodruff and Yell;

Other neighboring Arkansas counties include: Ashley, Bradley, Calhoun, Clark, Drew, Greene, Hempstead, Lee, Lincoln, Little River, Mississippi, Monroe, Montgomery, Nevada, Phillips, Polk, Sevier and Van Buren.

Other neighboring Missouri counties include: Barry, Butler, Dunklin, McDonald, Oregon, Ripley.

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 of up to $2 million to help meet financial obligations and operating expenses which could have been met had the disaster not occurred.

The deadline to apply is May 15, 2023.

By law, SBA makes Economic Injury Disaster Loans available when the U.S. Secretary of Agriculture designates an agricultural disaster. The Secretary declared this disaster on Sept. 13, 2022.

Businesses primarily engaged in farming or ranching are not eligible for SBA disaster assistance. Agricultural enterprises should contact the Farm Services Agency about the U.S. Department of Agriculture assistance made available by the Secretary’s declaration. However, nurseries are eligible for SBA disaster assistance in drought disasters.

Applicants may apply online, receive additional disaster assistance information and download applications at Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email for more information. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services. Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

The deadline to apply for economic injury is May 15, 2023.

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