29 Idaho counties eligible for disaster loans

Idaho (KMVT/KSVT) — Small nonfarm companies in 29 counties throughout Idaho are eligible for catastrophe aid mortgage funds because of the drought.

The funds will offset income losses attributable to drought in major counties that started on Jan 1, 2022.

Within the Magic Valley space, Cassia, Camas, Gooding, Jerome, Minidoka, and Twin Falls counties are all eligible.

“SBA (Small Enterprise Administration) eligibility covers each the financial impacts on companies depending on farmers and ranchers which have suffered agricultural manufacturing losses attributable to the catastrophe and companies instantly impacted by the catastrophe,” SBA Director Tanya N. Garfield mentioned.

Small nonfarm companies, small agricultural cooperatives, small companies engaged in aquaculture, and most non-public nonprofit organizations of any measurement could qualify for the loans as much as $2 million.

“Eligibility for these loans relies on the monetary influence of the catastrophe solely and never on any precise property harm. These loans have an rate of interest of two.83 % for companies and 1.875 % for personal nonprofit organizations, a most time period of 30 years and can be found to small companies and most non-public nonprofits with out the monetary means to offset the hostile influence with out hardship,” Garfield mentioned.

Companies who primarily interact in farming or ranching should not eligible for this funding.

You’ll be able to apply on-line right here.

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