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Floods

SBA Reminds Small Businesses and Nonprofits of July 25 Deadline for Disaster Loans

Strategic Insights

— 1 min read

Small businesses and private nonprofits in the Havasupai Tribe and Coconino County, Arizona, have until July 25 to apply for low-interest federal disaster loans to offset economic losses caused by August 2024 flooding. The disaster declaration covers the Havasupai Tribe and Coconino County, making SBA's Economic Injury Disaster Loan (EIDL) program available to affected small businesses and nonprofits. EIDLs can be used to cover working capital needs, including paying fixed debts, payroll, and accounts payable, without requiring physical damage to the business.

Key Takeaways:

  • The July 25 deadline is for small businesses and private nonprofits in the Havasupai Tribe and Coconino County, Arizona, to apply for low-interest federal disaster loans to offset economic losses caused by August 2024 flooding.
  • The disaster declaration covers the Havasupai Tribe and Coconino County, making SBA's Economic Injury Disaster Loan (EIDL) program available to affected small businesses and nonprofits.
  • EIDLs can be used to cover working capital needs, including paying fixed debts, payroll, and accounts payable, without requiring physical damage to the business.
  • The maximum loan amount is $2 million, with interest rates as low as 4% for small businesses and 3.25% for private nonprofits with terms up to 30 years.
  • Interest does not accrue, and payments are not due until 12 months from the date of the first loan disbursement.
  • The SBA sets loan amounts and terms based on each applicant's financial condition.
  • To apply online, visit sba.gov/disaster, or call the SBA's Customer Service Center at (800) 659-2955 for more information.
  • Applicants who are deaf, hard of hearing, or have a speech disability can access telecommunications relay services by dialing 7-1-1.

Statistics:

  • The disaster declaration covers the Havasupai Tribe and Coconino County, Arizona.
  • The deadline for applying for disaster loans is July 25.
  • The maximum loan amount is $2 million.
  • The interest rates for small businesses and private nonprofits are 4% and 3.25%, respectively.
  • The maximum loan term is 30 years.
  • Interest does not accrue, and payments are not due until 12 months from the date of the first loan disbursement.

Sources:

  • "SBA Reminds Small Businesses and Nonprofits of July 25 Deadline for Disaster Loans" (MIL-OSI, June 22, 2025)
  • "U.S. Small Business Administration" (www.sba.gov)
  • "About the U.S. Small Business Administration" (www.sba.gov/about)

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