[CED/CD/EAT] FW: Breaking News: SBA Economic Injury Disaster Loans Available to Arizona Small Businesses Through May 28, 2024

Thu Oct 5 12:16:36 MST 2023

Please share as appropriate.

Ed

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Edward C. Martin, Ph.D.
Associate Vice President and Director
UArizona Cooperative Extension
Division of Agriculture, Life, & Veterinary Sciences, and Cooperative Extension

Professor/Extension Specialist - Biosystems Engineering
THE UNIVERSITY OF ARIZONA

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Office:  520-621-7145 |  Cell: 520-709-0939
ecmartin at arizona.edu<mailto:ecmartin at arizona.edu>

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From: Kostyrko, George N. <George.Kostyrko at sba.gov>
Sent: Wednesday, October 4, 2023 2:15 PM
To: Martin, Edward C - (ecmartin) <ecmartin at arizona.edu>
Subject: [EXT]Breaking News: SBA Economic Injury Disaster Loans Available to Arizona Small Businesses Through May 28, 2024

External Email

Attn: University of Arizona Cooperative Interim Director Edward C. Martin

This is George Kostyrko,  your liaison with the U.S. Small Business Administration Office (SBA) of Disaster Recovery and Resilience.

Small nonfarm businesses in 11 Arizona Counties are now eligible to apply for low interest federal disaster loans from the U.S. Small Business Administration due to drought conditions that began Sept. 19. This event was declared as a disaster by the Secretary of Agriculture Sept. 25.

Please see attached materials and those at this link<https://disasterloanassistance.sba.gov/ela/s/disaster-details?recordId=a0e82000000K8lTAAS> for Small nonfarm businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations in the following counties:

  *   Primary Arizona counties:  Cochise, Graham, Greenlee, Pima and Santa Cruz;
  *   Neighboring Arizona counties:  Apache, Gila, Maricopa, Navajo, Pinal and Yuma;
  *   Neighboring New Mexico counties:  Catron, Grant and Hidalgo.

I was hoping your organization can share this information on your website as well as via any email or social media channels about benefits available to Small nonfarm businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations in these counties who suffered economic impact due to drought conditions that began June 1 and continues.  The economic injury deadline is May 28, 2024.

Background information (and attached to share with your community)

On Sept. 19, 2023, a disaster declaration was issued by the Secretary of Agriculture.

Those eligible for Economic Injury Disaster Loans are below:

  *   Economic Injury Disaster Loans (EIDL) – Working capital loans to help small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private, non-profit organizations of all sizes meet their ordinary and necessary financial obligations that cannot be met as a direct result of the disaster. These loans are intended to assist through the disaster recovery period. Loan rates are as low as 4 percent for businesses and small agricultural cooperatives and 2.375 percent for private non-profit organizations and are typically 30-year loans.  Shorter terms are available.  The economic injury deadline is May 28, 2024.

Businesses primarily engaged in farming or ranching are not eligible for SBA disaster assistance. Agricultural enterprises should contact the Farm Services Agency about the U.S. Department of Agriculture assistance made available by the Secretary’s declaration. However, nurseries are eligible for SBA disaster assistance in drought disasters.

There is no cost or obligation, and eligibility is based on a case-by-case review for each applicant.

Please contact me if you have questions or need more information.

George N. Kostyrko

Public Information Officer

Office of Disaster Recovery and Resilience, Field Operations Center - West

U.S. Small Business Administration
Cell Phone 571-455-2729

George.Kostyrko at sba.gov<mailto:George.Kostyrko at sba.gov>

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