The U.S. Small Business Administration is offering new loans to provide economic relief for small businesses across seven Arizona counties facing financial hardships from drought.
Though not for farms themselves, which are covered by the U.S. Department of Agriculture, the loans primarily target businesses in La Paz or Mohave County that rely on farms for their products and services.
The money comes from the SBA’s Disaster Loan Program, which partly seeks to help business owners recover from declared disasters. Last month, the agency announced the program’s funds had been completely exhausted.
The SBA’s Cynthia Cowell cited the impact of hurricanes Milton and Helene.
“To tell you the truth, this is the first time that we’ve had to stop funding loans. It almost happened right after Katrina, but Congress was in session at that point; it wasn’t an election year," Cowell said.
She said once Congress returns and appropriates money for the program, the SBA will be able to disburse funds immediately. The deadline for business owners to apply is July 7, 2025.
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