Farm-related entities in Androscoggin, Aroostook, Franklin, Kennebec, Oxford, Penobscot, Piscataquis, Somerset and Waldo counties are encouraged to apply for newly available, low-interest Economic Injury Disaster Loans through the U.S. Small Business Administration if they have suffered financial losses as a result of the drought that began in Maine on June 22. Eligible entities must submit completed loan applications to the SBA no later than April 13, 2022.

Eligible businesses may apply for EIDL of up to $2 million with interest rates of 2.88% for small businesses and 2% for private nonprofit

organizations of all sizes, with terms up to 30 years. The SBA determines eligibility based on the size of the applicant, type of activity and its financial resources. Loan amounts and terms are set by the SBA and are based on each applicant’s financial condition. The working capital loans may be used to pay fixed debts, payroll, accounts payable, and other bills that could have been paid had the disaster not occurred. The loans are not intended to replace lost sales or profits.

Information and application forms may be obtained by visiting sba.gov/disaster, by calling (800) 659-2955, or (800) 877-8339 for the deaf and hard-of-hearing, or by sending an email to disastercustomerservice@sba.gov. Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.