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You are here: Home / Nursery News / Disaster loans available for drought-stricken nurseries

Disaster loans available for drought-stricken nurseries

By Bill Goloski — Posted October 28, 2020

Nurseries in Baker, Grant, Harney, and Malheur counties are eligible for the Small Business Administration (SBA) economic injury disaster loans (EIDL) due to the declaration of a drought since August 11, 2020, according to a release from the agency. The deadline to apply is June 15, 2021.

Certain businesses are eligible for a maximum loan of $2 million, based on the financial obligations and operating expenses that could have been met had the disaster not occurred. The loans have a maximum interest rate of 4% for businesses and 2.75% for non-profits, for up to a 30-year term. A factsheet is available to download with more details on loan eligibility restrictions, requirements, and application process.

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Filed Under: Nursery News Tagged With: coronavirus, Nursery News

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About Bill Goloski

Bill Goloski is the publications manager at the Oregon Association of Nurseries and the art director for Digger magazine.

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