Spokane, Wash. — In response to the devastating wildfires that swept Eastern Washington from July 23 through August 31, the U.S. Small Business Administration (SBA) has launched a federal disaster loan program aimed at helping local businesses, nonprofit organizations and residents rebuild.
Who can apply and how much can be borrowed
The loan program covers Washington counties of Lincoln, Pend Oreille, Spokane, Stevens and Whitman, as well as Idaho’s Benewah, Bonner and Kootenai counties. Eligible businesses and nonprofits may request up to $2 million in physical disaster loans to repair or replace damaged real estate, equipment or inventory.
Homeowners and renters can apply for up to $100,000 to replace personal property, while homeowners may seek as much as $500,000 to repair or rebuild a primary residence.
Loan terms and conditions
Interest rates are set at a minimum of 4 % for businesses, 3.6 % for nonprofits and 2.8 % for homeowners. Repayment terms can extend as long as 30 years, and the SBA has stipulated that interest will not begin to accrue and payments will not be required until 12 months after the loan is disbursed.
It is important to note that the SBA program does not cover agricultural producers or farms, although aquaculture enterprises remain eligible.
How to apply
Applicants can start the process by calling the SBA’s dedicated line at 866‑SBA‑HELP or by emailing [email protected]. The agency encourages those affected to act promptly, as the loan window is limited to those with losses tied to the specified wildfire period.
Why this matters for the region
Eastern Washington’s economy relies heavily on small‑business owners, faith‑based nonprofits and family‑run enterprises. By providing affordable financing, the SBA is helping to preserve jobs, maintain essential services and keep families in their homes. The low‑interest rates and deferred payment schedule reflect the administration’s commitment to supporting communities hit by natural disasters, aligning with the nation’s broader goal of resilient, faith‑centered neighborhoods.
Local chambers of commerce and community leaders have praised the program, noting that quick access to capital can prevent permanent closures and allow rebuilding efforts to begin without the burden of high‑cost borrowing.
For more information, residents and business owners should contact the SBA directly or visit the agency’s website for detailed eligibility criteria and application instructions.
Original reporting: KHQ Spokane (news) — read the source article.
