Summit County businesses eligible for federal drought disaster loans

PARK CITY, Utah — Small businesses and private nonprofit organizations in Summit County may apply for federal disaster loans to help offset economic losses tied to drought conditions that began in April, according to the U.S. Small Business Administration.

The SBA announced Monday that Economic Injury Disaster Loans are available to eligible organizations in Summit County and several other northern Utah counties following drought that began April 15 and is continuing.

The SBA says the loans are intended to provide working capital for drought-related operating expenses.

Eligible applicants include small businesses, private nonprofit and faith-based organizations, small agricultural cooperatives and nurseries, and small aquaculture enterprises.

Loans of up to $2 million are available, with interest rates as low as 4% for small businesses and 3.625% for private nonprofit organizations. Loan terms may extend up to 30 years.

The SBA said no interest will accrue and no payments will be required during the first 12 months after a loan is disbursed.

The application deadline is May 10, 2027.

Applications are available through the SBA’s disaster assistance program at sba.gov/disaster. Applicants may also contact the SBA Customer Service Center at 800-659-2955 or disastercustomerservice@sba.gov.