SBA Drought Loans Available To Suffolk Businesses

Suffolk County businesses and nonprofit organizations suffering financial losses from drought conditions that began last summer are now eligible for federal disaster assistance through the U.S. Small Business Administration.

The SBA announced that low-interest Economic Injury Disaster Loans are available to eligible small businesses and private nonprofit organizations affected by drought conditions beginning June 9, 2026.

The disaster assistance covers Kent, Newport and Washington counties in Rhode Island, New London County in Connecticut and Suffolk County in New York.

Eligible applicants include small businesses, private nonprofits and faith-based organizations, small agricultural cooperatives and nurseries, and small aquaculture enterprises.

Unlike disaster loans intended to repair physical damage, Economic Injury Disaster Loans provide working capital to help organizations meet ordinary operating expenses they could have paid if the drought had not occurred.

Loans of up to $2 million are available, with interest rates as low as 4% for small businesses and 3.625% for private nonprofit organizations. Repayment terms can extend for as long as 30 years, depending on an applicant’s ability to repay.

The SBA is also providing borrowers with some initial breathing room. Interest will not accrue and payments will not be required during the first 12 months following the initial loan disbursement.

The availability of the program in Suffolk County could provide assistance to businesses whose revenues or operations were affected by prolonged dry conditions, even if they did not suffer direct physical property damage.

Applications for Economic Injury Disaster Loans must be submitted by April 26, 2027.

Businesses and organizations can apply through the SBA Disaster Assistance portal⁠. Applicants with questions can contact the SBA Customer Service Center at (800) 659-2955 or disastercustomerservice@sba.gov. People who are deaf, hard of hearing or have a speech disability can dial 7-1-1 for telecommunications relay services.