SBA loans help businesses rebuild

By Scout Nelson

The U.S. Small Business Administration (SBA) has announced the availability of low-interest disaster loans for small businesses and private nonprofit organizations (PNPs) in North Dakota. 

These loans aim to offset economic losses caused by adverse weather conditions such as drought, excessive rain, flooding, wildfire, and high winds during 2024. Eligible applicants must apply by August 25, 2025.

Loan Availability and Coverage

The loans are available under three declarations:

• Drought, Heat, and Winds: Covering counties like Burke, Mercer, and Oliver.
• Excessive Rain and Flooding: Including areas such as Cavalier, Pembina, and Ransom.
• Wildfire and High Winds: Impacting Sioux County and neighbouring regions.

The SBA’s Economic Injury Disaster Loan (EIDL) program is open to small businesses, small agricultural cooperatives, nurseries, and PNPs. However, agricultural producers, farmers, and ranchers are ineligible, except for aquaculture enterprises.

Loan Benefits and Features

EIDL loans provide working capital to cover essential expenses like fixed debts, payroll, and accounts payable. Businesses can receive up to $2 million with interest rates of 4% for small businesses and 3.25% for PNPs. Loans have flexible terms of up to 30 years, and payments are deferred for 12 months from the first disbursement.

“When farmers face crop losses and a disaster is declared by the secretary of agriculture, SBA working capital loans become a lifeline for eligible small businesses,” said Francisco Sánchez, Jr., associate administrator for the Office of Disaster Recovery and Resilience.

Application and Assistance

The SBA encourages eligible applicants to apply promptly via sba.gov/disaster. Additional information is available by calling (800) 659-2955 or emailing disastercustomerservice@sba.gov. Assistance for individuals with disabilities is available through 7-1-1 relay services.

This initiative, supported by the American Relief Act of 2025, provides critical support to help rural communities recover and thrive after disasters.

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