The U.S. Small Business Administration (SBA) has announced that federal Economic Injury Disaster Loans (EIDLs) are now available for Pennsylvania businesses affected by drought conditions that began on July 30. The declaration includes Cumberland County and the adjacent counties of Adams, Dauphin, Franklin, Perry, and York.
Eligible applicants include small businesses, agricultural cooperatives, aquaculture operations, and most private nonprofit organizations. They can apply for loans up to $2 million, with interest rates set at 4% for small businesses and 3.25% for nonprofits.
These loans can help cover essential operational costs, such as payroll and accounts payable, that were impacted by the economic losses caused by the drought. However, while aquaculture enterprises are eligible, traditional agricultural producers, farmers, and ranchers do not qualify for these loans.
For more details, you can read the full announcement here.
