SBA Economic Injury Disaster Loans Now Available for Small Businesses in Local Counties

1-950

October 4, 2024

SACRAMENTO, Calif. – Small nonfarm businesses in Wheeler and Collingsworth counties in Texas, along with Roger Mills and Ellis counties in Oklahoma, are now eligible to apply for low-interest federal disaster loans through the U.S. Small Business Administration (SBA). These loans, announced by Francisco Sánchez Jr., associate administrator for the Office of Disaster Recovery and Resilience, are designed to help offset economic losses caused by the recent drought, which has severely impacted revenues in these areas since September 17.

For businesses in Wheeler and Collingsworth counties in Texas and Roger Mills and Ellis counties in Oklahoma, these Economic Injury Disaster Loans (EIDL) offer a crucial lifeline to help sustain operations during difficult times. The SBA eligibility extends to small agricultural cooperatives, small aquaculture businesses, and most private nonprofit organizations that may have been financially affected by drought conditions.

“These loans are vital for rural businesses facing economic setbacks due to natural disasters, providing a bridge to help maintain operations until conditions improve,” said Sánchez.

The loans can provide up to $2 million to cover financial obligations and operating expenses that could not be met due to the drought. Interest rates are set at 4 percent for businesses and 3.25 percent for private nonprofits, with a maximum repayment term of 30 years. The interest will not accrue for the first 12 months following the loan disbursement, giving businesses much-needed breathing room as they recover from the disaster’s impact.

For small businesses in Wheeler, Collingsworth, Roger Mills, and Ellis counties, this is an opportunity to seek relief and plan for a stronger recovery.

Copyright 2024 Paragon Communications. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.

2504301340_3511946

SWOSU Hosting Spring 2025 Commencement Ceremonies

SWOSU Press Release Weatherford, OK – Southwestern Oklahoma State University (SWOSU) will host four commencement ceremonies on the Weatherford campus in May for the Spring 2025 graduating seniors. Eligible participants for the ceremonies include students who will

2504301156_1418190

Heavy Rainfall Totals Across Western Oklahoma

From April 25 to April 30, 2025, western Oklahoma experienced significant rainfall, with totals ranging from 2.5 to 3.6 inches across Beckham, Washita, Custer, and Roger Mills counties. These figures are based on data from the Oklahoma

2504221333_181431

Local Librarian is Tennis Titan

By Landry Brewer Elk City, OK – Joni (Jordan) McConnell is the most successful Elk City High School tennis player of all time. McConnell’s parents, both teachers, played tennis and put her on the courts with them