On Sep. 14, SBA reported disaster loans available due to NM drought.
SBA reported the availability of economic injury disaster loans (EIDL) for New Mexico small businesses in areas that experienced drought that occurred from Sep. 5, 2023.
EIDL Loan Eligibility
Primary New Mexico counties: Catron, Doña Ana, Grant, Luna and Sierra; neighboring New Mexico counties: Cibola, Hidalgo, Lincoln, Otero and Socorro; are eligible to apply
Eligible neighboring AZ counties, Apache, Greenlee; neighboring TX county, El Paso.
Covers economic impact on businesses dependent on farmers/ranchers but not the businesses engaged in farming/ranching; farmers must contact Farm Services Agency.
Small nonfarm businesses, agricultural coops, aquaculture, and private nonprofits are eligible to apply for up to $2mn for financial and operating expense obligations.
Nurseries are also eligible to apply for SBA disaster assistance in drought disasters.
Application Deadline
The deadline to submit applications for economic injury disaster loans is May 13, 2024.
