(KIWA Staff Photo)
Northwest Iowa — The U.S. Small Business Administration has announced the availability of low-interest federal disaster loans for eligible small businesses and private nonprofit organizations impacted by the drought beginning April 1.
People in Lyon, O’Brien, Osceola, and Sioux counties in Iowa, Nobles and Rock counties in Minnesota and Lincoln and Minnehaha counties in South Dakota can apply.
The loans are for small businesses, private nonprofits & faith-based organizations, small agricultural cooperatives & nurseries, and small aquaculture enterprises.
Economic Injury Disaster Loans are available to provide working capital assistance for operational expenses caused by the disaster.
Up to $2 million in loan funding is available with interest rates as low as 4% for small businesses and 3.625% for private nonprofit organizations, and loan terms of up to 30 years.
No interest or required payments need to be paid during the first 12 months following disbursement
You can apply online at sba.gov/disaster by March 29, 2027. Applicants may call the SBA Customer Service Center with questions regarding their application at (800) 659-2955 or email disastercustomerservice@sba.gov. For people who are deaf, hard of hearing, or have a speech disability, you can dial 7-1-1 to access telecommunications relay services.
