October 13, 2021 10:20 a.m. 

The deadline to apply for a U.S. Small Business Administration federal disaster loan for economic injury is approaching.

An SBA release said businesses in Oregon counties and neighboring counties in California and Washington have until November 12th to get an application in. These low-interest loans are to offset economic losses because of reduced revenues caused by drought that began March 15th of this year.

The release listed the primary counties with drought impacts as Jackson and Wasco. Neighboring counties include Douglas and nine other counties in Oregon and one each in California and Washington.

Small nonfarm businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size may apply for Economic Injury Disaster Loans of up to $2 million to help meet working capital needs caused by the disaster. These loans may be used to pay fixed debts, accounts payable and other bills that cannot be paid because of the disaster’s impact.

The interest rate is 3 percent for businesses and 2 percent for private nonprofit organizations with terms up to 30 years.

Applicants can apply at: https://disasterloanassistance.sba.gov/ela/s/ or call 800-659-2955 for more information.