Presidential Declaration of a Major Disaster for Public Assistance Only for the State of Oregon
Published Date: 1/8/2025
Notice
Summary
Oregon just got a major disaster declaration for wildfires that hit five counties last summer. This means nonprofit groups can now apply for low-interest disaster loans to help fix damage or recover lost income. Act fast—physical damage loan applications are due by March 3, 2025, and economic injury loans by October 1, 2025.
Analyzed Economic Effects
2 provisions identified: 2 benefits, 0 costs, 0 mixed.
Nonprofits in five Oregon counties eligible for SBA disaster loans
If you run a Private Non‑Profit that provides essential governmental services in Gilliam, Grant, Umatilla, Wasco, or Wheeler counties in Oregon, you can apply for SBA disaster loans for wildfire-related damage or lost income. Physical damage loan applications must be filed by March 3, 2025, and Economic Injury (EIDL) loan applications must be filed by October 1, 2025. You may apply online at https://lending.sba.gov or contact the SBA disaster assistance customer service center.
SBA disaster loan interest rate set at 3.250%
The Small Business Administration set the interest rate for eligible nonprofit disaster loans at 3.250%. This rate applies to Physical Damage loans for Non‑Profit Organizations both with and without credit available elsewhere, and to Economic Injury loans for Nonprofit Organizations without credit available elsewhere.
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