SBA Disaster Loans Available for Wildfire Losses

By Scout Nelson

The U.S. Small Business Administration (SBA) is offering low interest disaster loans to eligible small businesses and private nonprofit organizations affected by wildfires starting June 11, 2024, in Wyoming and surrounding counties. The deadline to apply is June 16, 2025.

This federal disaster declaration includes many counties in Wyoming, as well as counties in Colorado, Montana, Nebraska, and South Dakota that were impacted by the wildfires. The SBA’s Economic Injury Disaster Loan (EIDL) program helps small businesses, agricultural cooperatives, nurseries, and nonprofits that suffered financial losses directly due to the disaster.

It is important to note that agricultural producers, farmers, and ranchers are not eligible for these loans unless they operate a small aquaculture business. The EIDL loans provide working capital for businesses to cover expenses such as fixed debts, payroll, accounts payable, and other bills affected by the wildfire, even if the business did not experience physical damage.

Loan amounts can be up to $2 million with interest rates as low as 4% for small businesses and 3.25% for private nonprofits. The repayment terms can extend up to 30 years. Interest will not accrue, and payments are not required until 12 months after the first loan disbursement. The SBA determines loan amounts and terms based on each applicant’s financial situation.

“Through a declaration by the U.S. Secretary of Agriculture, SBA provides critical financial assistance to help communities recover,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “We’re pleased to offer loans to small businesses and private nonprofits impacted by these disasters.”

Applicants must submit completed loan applications to the SBA by June 16, 2025, to be considered. These loans provide vital financial support to help businesses and nonprofits recover from wildfire-related economic losses.

Photo Credit: smoke-forest-fire-ontario-ministry-of-natural-resources