WHATCOM COUNY, WA (MyBellinghamNow.com) – Small businesses in 22 Washington counties, including Whatcom County, are now eligible to apply for low-interest federal disaster loans.
The U.S. Small Business Administration (SBA) said the loans are being offered to offset any losses in revenue businesses might have suffered from excessive heat that occurred last summer. Any businesses that are primarily farming or ranching-based are not eligible to apply for the loans.
A spokesperson for the SBA said the loans exist to support businesses that are dependent on farmers and ranchers who saw production losses from the heat wave, as well as businesses that were directly impacted by it.
The U.S. Secretary of Agriculture declared the heat wave that took place from March through July 2023 as an agricultural disaster earlier this month.
Eligible businesses can qualify for up to $2 million in disaster loans to make up for financial impact only and not any property damage. The deadline to apply is November 14. People can read more about the application process and find a place to apply on SBA’s website.