Posted 6/12/24

Tennessee small businesses that suffered losses from a drought that started in October were reminded of an upcoming deadline to apply for a federal working capital loan.

The last day to submit an application for the Small Business Administration's Economic Injury Disaster Loan is July 8th, 2024.

Any farm-related and nonfarm-related entities that suffered financial losses by the drought, which started October 31st, 2023, are eligible for the loan.

The loan amount can be up to $2 million with a 4% interest rate for small businesses and a 3.25% for private nonprofit organizations, with terms up to 30 years.

Local counties in Tennessee that can apply include…

Giles, Hickman, Lewis, Lincoln, Marshall, Maury, Moore counties.

Local contiguous counties that can apply are…

Franklin, Lawrence, and Wayne counties.

To apply, visit the SBA disaster loan website or call the SBA's Customer Service Center at 800-659-2955 or email This email address is being protected from spambots. You need JavaScript enabled to view it..