Small businesses, nonprofits could be eligible for aid following November drought
KANSAS CITY, Mo. (KCTV) – Small businesses and nonprofits in the rural surroundings of Kansas City could be eligible for financial aid following a drought that started last November.
The U.S. Small Business Administration has announced that low-interest federal disaster loans are available to small businesses and private nonprofits in Missouri that were hit due to drought starting on Nov. 1, 2024.
The SBA noted that the disaster declaration includes those in Barry, Bares, Benton, Boone, Callaway, Camden, Cass, Cedar, Christian, Cole, Cooper, Dade, Dallas, Douglas, Gasconade, Greene, Henry, Hickory, Jasper, Johnson, Laclede, Lawrence, Maries, Miller, Moniteau, Morgan, Newton, Osage, Pettis, Phelps, Polk, Pulaski, St. Clair, Stone, Vernon, Wesbster and Wright counties in Missouri as well as Linn and Miami counties in Kansas.
Under the declaration, the Administration indicated that the Economic Injury Disaster Loan program is available to small businesses, small agricultural cooperatives, nurseries and private nonprofits with financial losses related to the disaster. Agricultural producers other than small aquaculture enterprises are not eligible.
Administration leaders noted that the program is meant to support the capital needs caused by the disaster and is available even if the entity did not suffer any physical damage. The plans can be used to pay fixed debts, payroll, accounts payable and other bills not paid due to the disaster.
“Through a declaration by the U.S. Secretary of Agriculture, SBA provides critical financial assistance to help communities recover,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “We’re pleased to offer loans to small businesses and private nonprofits impacted by these disasters.”
According to SBA officials, the loan amount can be up to $2 million with interest rates as low as 4% for small businesses and 3.635% for private nonprofits with terms of up to 30 years. Interest does not accrue and payments are not due until 12 months after the date of the first disbursement.
To apply, click HERE. Completed loan applications should be submitted no later than Nov. 25, 2025.
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