March 12, 2021 10:20 a.m.

Small nonfarm businesses in four Oregon counties and a neighboring county in California are now eligible to apply for low interest federal disaster loans from the U.S. Small Business Administration.

A release said the loans offset economic loses that occurred due to reduced revenues caused by the drought that began on January 1st of this year in Coos and Curry counties. Businesses in Douglas and Josephine counties are also eligible as are ones in Del Norte County in California.

Director Tanya Garfield of SBA’s Disaster Field Operations Center-West said eligibility covers both the economic impacts on businesses dependent on farmers and ranchers that have suffered agricultural production losses caused by the disaster and businesses directly impacted by the disaster.

The release said small nonfarm businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size may quality for Economic Injury Disaster Loans of up to $2 million to help meet financial obligations and operating expenses which could have been met had the disaster not occurred.

By law the SBA makes Economic Injury Disaster Loans available when the U.S. Secretary of Agriculture designates an agricultural disaster. This disaster was declared on March 5th.

Applicants can apply online or get more information by going to: https://disasterloanassistance.sba.gov/ela/s/

The deadline to apply is November 5th of this year.