SBA offers disaster loans for drought-affected businesses in Oklahoma and Texas

The U.S. Small Business Administration (SBA) has announced that small businesses and private nonprofit organizations in parts of Oklahoma and Texas are eligible for low-interest Economic Injury Disaster Loans due to ongoing drought conditions.

In Oklahoma, eligible entities include those in Creek, Haskell, and Latimer counties, as well as contiguous counties such as Tulsa, Muskogee, and Payne. In Texas, the Concho Valley area is eligible, specifically Tom Green County and surrounding areas including Concho, Coke, and Runnels counties.

Loans provide working capital for operational expenses and can reach up to $2 million. Interest rates are set at a maximum of 4% for small businesses and 3.625% for private nonprofits. Loan terms extend up to 30 years, with no interest or required payments during the first 12 months following disbursement. The application deadline for both regions is June 21, 2027.