WEST VIRGINIA (LOOTPRESS) – The U.S. Small Business Administration (SBA) has announced that low-interest federal disaster loans are available to eligible small businesses and private nonprofit organizations in West Virginia impacted by drought conditions that began May 19.
Economic Injury Disaster Loans are available to help qualifying organizations meet working capital needs and cover operating expenses affected by the drought.
In West Virginia, eligible counties include Barbour, Boone, Fayette, Grant, Greenbrier, Hampshire, Hardy, Kanawha, Logan, McDowell, Mercer, Mineral, Mingo, Monroe, Morgan, Pendleton, Pocahontas, Preston, Raleigh, Randolph, Summers, Tucker, Upshur, Webster and Wyoming counties.
Several neighboring counties are also eligible, including Allegany and Garrett counties in Maryland and Alleghany, Augusta, Bland, Buchanan, Craig, Frederick, Giles, Highland, Rockingham, Shenandoah and Tazewell counties in Virginia.
Eligible applicants include small businesses, private nonprofits and faith-based organizations, small agricultural cooperatives and nurseries, and small aquaculture enterprises.
Loans of up to $2 million are available, with interest rates as low as 4% for small businesses and 3.625% for private nonprofit organizations. Loan terms may extend up to 30 years.
According to the SBA, interest will not accrue and payments will not be required during the first 12 months following the initial loan disbursement.
Applications can be submitted through the SBA’s disaster assistance program. The deadline to apply for an Economic Injury Disaster Loan is March 8, 2027.
Applicants with questions may contact the SBA Customer Service Center at 800-659-2955 or [email protected]. Those who are deaf, hard of hearing or have a speech disability may dial 7-1-1 for telecommunications relay services.
