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Small businesses and private nonprofit organizations (PNPs) in Washington County, Maryland, impacted by the drought that began on July 30, 2024, are being urged to apply for low-interest federal disaster loans through the U.S. Small Business Administration (SBA) before the April 7, 2025, deadline. The SBA’s Economic Injury Disaster Loan (EIDL) program offers financial relief to eligible entities suffering economic hardship due to the prolonged drought. The disaster declaration encompasses Allegany, Garrett, and Washington counties.
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The EIDL program is designed to assist small businesses, small agricultural cooperatives, nurseries, and PNPs that experienced financial losses because of the drought. However, traditional agricultural producers, farmers, and ranchers are not eligible unless they operate small aquaculture enterprises. Loan funds can be utilized to cover essential operating costs, including fixed debts, payroll, accounts payable, and other financial obligations that have become difficult to meet due to the economic strain caused by the disaster. Physical damage to the business or nonprofit is not required to qualify for the assistance.
The Washington County Department of Business and Economic Development is actively promoting the program to ensure that all eligible organizations are aware of this financial aid opportunity. Businesses and nonprofits are encouraged to explore the SBA’s resources, which provide a potential lifeline to maintain operations during ongoing economic challenges. More information about loan terms, eligibility, and the application process can be found on the SBA’s official website.
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Interested applicants can access detailed program guidelines and support through the SBA’s website at www.sba.gov or by calling the Washington County Department of Business and Economic Development at 240-313-2280.
Article by multiple RFHC contributors, based upon information provided by Washington County Government.
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