On Sep. 7, SBA reported economic injury loans for small businesses.
SBA announced economic injury disaster loans (EIDLs) available to small businesses.
Covers firms in Arkansas for damages due to storms, tornadoes Jun. 7 - Jul. 14, 2023.
SBA Loan Eligibility
Funding available in primary counties of Ashley, Conway, Mississippi, Monroe, Pope, Prairie and Stone; also in neighboring Arkansas, Louisiana, Tennessee counties listed.
Covers economic impacts on businesses dependent on farmers, ranchers suffering agricultural production losses caused by disaster, businesses directly impacted by it.
Small nonfarm businesses, small agricultural cooperatives, small businesses engaged in aquaculture, most private nonprofit organizations of any size may qualify for EIDLs.
Loans of up to $2 million help meet financial obligations and operating expenses which could have been met by the small businesses had the disaster not occurred.
Businesses primarily engaged in farming or ranching not eligible for SBA assistance.
Based on financial impact of the disaster only and not on any actual property damage.
Application Deadlines
The deadline for parties to apply for economic injury disaster loans is May 6, 2024.
