SBA Offers Frost, Freeze Low-Interest Disaster Loans
Low-interest federal disaster loans are available to small businesses and private nonprofit organizations in Maryland to offset economic losses caused by frost and freeze occurring on April 21.
The disaster declaration by the US Small Business Administration covers most Maryland counties.
Under the declaration, the SBA’s Economic Injury Disaster Loan program is available to eligible small businesses, small agricultural cooperatives, nurseries, and PNPs—including faith-based organizations—with financial losses directly related to this disaster.
The SBA is unable to provide disaster loans to agricultural producers, farmers, or ranchers, except for aquaculture enterprises.
Under this declaration, the SBA’s Economic Injury Disaster Loan program is available to eligible small businesses, small agricultural cooperatives, and PNPs — including faith-based organizations — with financial losses directly related to this disaster. The SBA is unable to provide disaster loans to agricultural producers, farmers, or ranchers, except for aquaculture enterprises.
The loan amount can be up to $2 million with interest rates as low as 4% for small businesses and 3.625% for PNPs, with terms of up to 30 years. Interest does not accrue, and payments are not due until 12 months from the date of the first loan disbursement.
The SBA sets loan amounts and terms based on each applicant’s financial condition.
To apply online go to sba.gov/disaster. Applicants may also call SBA’s Customer Service Center at 800-659-2955 or email [email protected] for more information on SBA disaster assistance.
The deadline to return applications is February 16, 2027.
