SBA 2024 Drought Deadline to Apply for Economic Injury Loans Approaching

7/7/2025

ATLANTA – The U.S. Small Business Administration (SBA) is reminding small businesses and private nonprofit (PNP) organizations in Virginia of the July 15 deadline to apply for low interest federal disaster loans to offset economic losses caused by drought and excessive heat occurring on April 16, 2024.

The disaster declaration covers the West Virginia counties of McDowell, Mercer, Mingo, Monroe and Summers. 

The SBA is unable to provide disaster loans to agricultural producers, farmers, or ranchers, except for small aquaculture enterprises.

Under this declaration SBA’s Economic Injury Disaster Loan (EIDL) program is available to small businesses, small agricultural cooperatives, nurseries and PNPs with financial losses directly related to the disaster. EIDLs are available for working capital needs caused by the disaster and are available even if the small business or PNP did not suffer any physical damage. The loans may 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.” 

Contact Information

Sharon V. Dooley, Public Affairs Specialist, SBA Field Operations Center – East (FOCE)