Deadline Approaching in North Dakota for SBA Working Capital Loans Due to Adverse Weather Conditions

SACRAMENTO, Calif. – Director Jeffrey Lusk of the U.S. Small Business Administration’s Disaster Field Operations Center-West today reminded North Dakota small nonfarm businesses of the deadline dates to apply for an SBA federal disaster loan for economic injury. These low-interest loans are to offset economic losses because of reduced revenues caused by adverse weather conditions in the following primary counties. 

Declaration Number:  17809 
Primary Counties:  Burleigh, Emmons, Kidder, McKenzie and Mercer 
Neighboring Counties:  Billings, Dunn, Golden Valley, Logan, McIntosh, McLean, Morton, Mountrail, Oliver, Sheridan, Sioux, Stark, Stutsman, Wells and Williams in North Dakota; 
Richland, Roosevelt and Wibaux in Montana; Campbell and Corson in South Dakota 
Incident Type:  Drought 
Incident Date:  Beginning June 11, 2022 
Deadline:  11/6/23 

Declaration Number:  17810 
Primary Counties:  Barnes, Bottineau, Grant, LaMoure, Logan, Nelson, Ramsey, Sioux, Towner and Walsh 
Neighboring Counties:  Adams, Benson, Cass, Cavalier, Dickey, Eddy, Emmons, Grand Forks, Griggs, Hettinger, Kidder, McHenry, McIntosh, Morton, Pembina, Pierce, Ransom, Renville, Rolette, Stark, Steele and Stutsman in North Dakota; 
Marshall in Minnesota; 
Campbell, Corson and Perkins in South Dakota 
Incident Type:  Excessive Rain 
Incident Date:  April 1, 2022 – June 30, 2022 
Deadline:  11/6/23 

Declaration Number:  17811 
Primary Counties:  Benson, Burke, Cavalier, Divide, Eddy, Foster, Grand Forks, Griggs, McIntosh, Pembina, Ransom, Renville, Sargent, Steele and Traill 
Neighboring Counties:  Barnes, Bottineau, Cass, Dickey, Emmons, LaMoure, Logan, McHenry, Mountrail, Nelson, Pierce, Ramsey, Richland, Stutsman, Towner, Walsh, Ward, Wells and Williams in North Dakota; 
Kittson, Marshall, Norman and Polk in Minnesota;  
Sheridan in Montana; 
Brown, Campbell, Marshall, McPherson and Roberts in South Dakota 
Incident Type:  Excessive Rain and Flooding 
Incident Date:  April 1, 2022 – June 30, 2022 
Deadline:  11/6/23 

According to Lusk, small nonfarm businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size may apply for Economic Injury Disaster Loans of up to $2 million to help meet working capital needs caused by the disasters. “Economic Injury Disaster Loans may be used to pay fixed debts, payroll, accounts payable and other bills that cannot be paid because of the disasters’ impact,” said Lusk. 

“SBA eligibility covers both the economic impacts on businesses dependent on farmers and ranchers that have suffered agricultural production losses caused by the disasters and businesses directly impacted by the disasters. Economic injury assistance is available regardless of whether the applicant suffered any property damage,” Lusk added. 

These loans have an interest rate as low as 2.935 percent for businesses and 1.875 percent for private nonprofit organizations with terms up to 30 years. Loan amounts and terms are set by SBA and are based on each applicant’s financial condition. 

Interest does not begin to accrue until 12 months from the date of the initial disaster loan disbursement. SBA disaster loan repayment begins 12 months from the date of the first disbursement. 

By law, SBA makes Economic Injury Disaster Loans available when the U.S. Secretary of Agriculture designates an agricultural disaster. The Secretary declared these declarations on March 6. 

Businesses primarily engaged in farming or ranching are not eligible for SBA disaster assistance. Agricultural enterprises should contact the Farm Services Agency about the U.S. Department of Agriculture assistance made available by the Secretary’s declaration. However, in drought disasters nurseries are eligible for SBA disaster assistance. 

Applicants may apply online, receive additional disaster assistance information and download applications at https://disasterloanassistance.sba.gov/. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services. Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX  76155. 


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About the U.S. Small Business Administration 
The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow, expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.