Deadlines for SBA Working Capital Loans in Colorado, Montana, and New Mexico Extended Due to Drought Situation

Small businesses in Colorado, Montana, and New Mexico are facing a critical deadline to apply for Small Business Administration (SBA) working capital loans as a result of severe drought conditions. The SBA is ramping up efforts to provide essential financial assistance to those impacted by the drought.

The looming deadline for small businesses and nonprofits in these states to take advantage of the SBA’s Economic Injury Disaster Loans (EIDL) program is quickly approaching. These loans are specifically designed to offer the necessary financial support to help businesses weather the economic impact of the ongoing drought and ensure their continued operation and recovery.

In Colorado, the deadline to apply for EIDL loans is June 17, 2024. Small non-farm businesses, agricultural cooperatives, aquaculture businesses, and private nonprofit organizations that have been affected by the drought are eligible to apply for these crucial loans.

SBA Administrator Isabella Casillas Guzman emphasized the importance of these loans, stating, “SBA’s Economic Injury Disaster Loans offer vital financial support to small businesses and nonprofits that have suffered economic damage due to the drought.”

Businesses in Montana and New Mexico also face the same June 17 deadline to apply for EIDL loans. The SBA is committed to providing much-needed relief to these states’ local economies and ensuring that small businesses have the resources they need to survive and thrive.

Small businesses, agricultural cooperatives, aquaculture businesses, and private nonprofits in Colorado, Montana, and New Mexico can apply for EIDL loans through the SBA’s website or by contacting the SBA Customer Service Center. The SBA is dedicated to helping these businesses recover and continue contributing to their local economies in the face of challenging drought conditions.