SACRAMENTO, Calif. The U.S. Small Business Administration (SBA) is reminding eligible private nonprofit (PNP) organizations in Oklahoma of the Feb. 18, 2025 deadline to apply for low interest federal disaster loans to offset economic losses caused by severe storms, tornadoes, straight-line winds and flooding that occurred April 25–May 9, 2024.
The disaster declaration covers the counties of Carter, Coal, Cotton, Haskell, Hughes, Johnston, Kay, Love, Murray, Okfuskee, Okmulgee, Osage, Pittsburg, Pontotoc, Seminole, Tillman, Wagoner, Washington and Washita.
Under this declaration, the SBA’s Economic Injury Disaster Loan (EIDL) program is available to eligible PNPs that suffered financial losses directly related to this disaster.
EIDLs are available for working capital needs caused by the disaster and are available even if the business did not suffer any physical damage. The loans may be used to pay fixed debts, payroll, accounts payable, and other bills that could have been paid had the disaster not occurred.
“Working capital loans from the SBA are essential to eligible small businesses affected by the incident,” said Francisco Sánchez, Jr., associate administrator for the Office of Disaster Recovery and Resilience at the SBA. “These loans help sustain local economies when a disaster occurs.”
The loan amount can be up to $2 million with interest rates of 3.25%, and terms up to 30 years. Interest does not accrue, and payments are not due, until 12 months from the date of the first loan disbursement. The SBA sets loan amounts and terms, based on each applicant’s financial condition.
SBA’s disaster loan program has been replenished through the American Relief Act of 2025, signed into law by President Biden on December 21, 2024.
The SBA encourages applicants to submit their loan applications promptly. Applications will be prioritized in the order they are received, and the SBA remains committed to processing them as efficiently as possible.
The deadline to submit economic injury applications is Feb. 18.
Applicants may apply online and receive additional disaster assistance information at SBA.gov/disaster. 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.
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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.