News Summary
The U.S. Small Business Administration (SBA) has announced low-interest federal disaster loans for businesses impacted by the Dragon Bravo Fire and White Sage Fire. The economic disaster declaration allows affected businesses in Arizona and southern Utah to apply for Economic Injury Disaster Loans (EIDL) to recover from financial losses. With terms of up to 30 years at a 4% fixed interest rate and a one-year payment deferment, this support aims to stabilize local economies during the critical summer tourism season.
Arizona – The U.S. Small Business Administration (SBA) has announced the availability of low-interest federal disaster loans for businesses affected by the recent Dragon Bravo Fire and White Sage Fire. An economic disaster declaration has been made for the region, allowing businesses to access Economic Injury Disaster Loans (EIDL) to support their recovery from financial losses incurred during the fires.
The loans, designed to help businesses that have suffered a downturn in revenue due to the wildfires, are available for up to 30 years at a fixed interest rate of 4%. Notably, new borrowers will not have to worry about principal and interest payments for the first year of their loan term, providing immediate breathing room for recovery efforts.
To assist local businesses with the EIDL application process, SBA mobile service teams will begin operations in northern Arizona and southern Utah starting August 25. These mobile teams will offer in-person help, with walk-ins welcome at service locations. Appointments will also be scheduled when necessary to ensure that all businesses can access the support they need.
The economic disaster declaration includes not only Coconino County, the site of some of the worst fire damage, but also several neighboring counties in Arizona. Mohave, Yavapai, Gila, and Navajo counties are all covered under this declaration. In addition, it extends to Kane and San Juan counties in Utah and several tribal nations, including the Navajo Nation, Hopi Tribe, Havasupai Tribe, Hualapai Tribe, and San Juan Southern Paiute Tribe.
Businesses are encouraged to act quickly, as the application window for this financial assistance will remain open for nine months. Applications can be submitted online through the SBA’s official website at sba.gov/disaster. Additionally, assistance is available via phone at the SBA’s Customer Service Center by calling (800) 659-2955 or through email at disastercustomerservice@sba.gov. For individuals with disabilities, support services are also provided through telecommunications relay services by dialing 7-1-1.
This disaster loan program aims to restore economic stability for the impacted communities after the devastating wildfires, especially during the critical summer tourism season. By helping small businesses recover lost revenue, the SBA is working to ensure that these local economies can rebound and continue to thrive amidst tough circumstances.
Background context for this initiative includes the recent fires which have severely affected business operations in the region. With tourism being a crucial component of the local economy, the timely financial assistance provided by these loans is essential for small business owners who depend on this revenue to sustain their livelihoods and support their employees.
Additionally, the SBA disaster loans represent a vital resource for local businesses struggling in the aftermath of environmental disasters. Past experiences have shown that quick access to financial aid can significantly bolster community recovery efforts by allowing businesses to promptly re-establish operations and maintain employment levels in the wake of a crisis.
In conclusion, the SBA’s low-interest disaster loans serve as an important lifeline for businesses affected by the Dragon Bravo and White Sage Fires, ensuring that communities can begin their recovery journeys as soon as possible.
Deeper Dive: News & Info About This Topic
- SU Independent
- Arizona Daily Sun
- AZ Central
- Hoodline
- US News
- Wikipedia: Economic Injury Disaster Loan
- Google Search: Arizona wildfires
- Google Scholar: disaster loans Arizona
- Encyclopedia Britannica: Wildfire
- Google News: Arizona business disaster loans
Author: STAFF HERE PHOENIX WRITER
PHOENIX STAFF WRITER The PHOENIX STAFF WRITER represents the experienced team at HEREPhoenix.com, your go-to source for actionable local news and information in Phoenix, Maricopa County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the Waste Management Phoenix Open, Cactus League Spring Training, and Arizona State Fair. Our coverage extends to key organizations like the Greater Phoenix Chamber of Commerce and Visit Phoenix, plus leading businesses in technology and healthcare that power the local economy such as Intel and Banner Health. As part of the broader HERE network, including HERETucson.com, we provide comprehensive, credible insights into Arizona's dynamic landscape.
