Oregon wildfires spark rural SBA disaster loan program
Published Date: 3/19/2025
Notice
Summary
Oregon’s Wheeler County got hit by wildfires last summer, and now the government is stepping in with disaster loans to help homeowners, businesses, and nonprofits recover. You can apply online for physical damage loans until May 12, 2025, and for economic injury loans until December 15, 2025. Interest rates are friendly, especially if you don’t have other credit options, making it easier to bounce back.
Analyzed Economic Effects
5 provisions identified: 5 benefits, 0 costs, 0 mixed.
Wheeler County declared eligible
If you live or run a business in Wheeler County, Oregon, the SBA declared the county a disaster area for wildfires that occurred from July 10, 2024 through August 23, 2024. That declaration makes residents, businesses, and nonprofits in Wheeler County eligible to apply for SBA disaster assistance.
Homeowner disaster loans and deadlines
If you are a homeowner in Wheeler County with wildfire physical damage, you can apply for SBA physical disaster loans through the MySBA Loan Portal. The physical damage loan application deadline is May 12, 2025; interest rates listed are 5.375% for homeowners with credit available elsewhere and 2.688% for homeowners without credit available elsewhere.
Business physical damage loans and rates
If your business in Wheeler County suffered physical damage from the wildfires, you can apply for SBA physical disaster loans through the MySBA Loan Portal by May 12, 2025. Interest rates are 8.000% for businesses with credit available elsewhere and 4.000% for businesses without credit available elsewhere.
Economic Injury Disaster Loans (EIDL) availability and deadline
If your business or small agricultural cooperative in Wheeler County suffered economic injury from the wildfires, you may apply for SBA Economic Injury Disaster Loans (EIDL) through the MySBA Loan Portal. The EIDL application deadline is December 15, 2025; the interest rate for businesses and small agricultural cooperatives without credit available elsewhere is 4.000%.
Nonprofit organizations eligible for low-rate loans
Nonprofit organizations in Wheeler County can apply for SBA physical damage loans (deadline May 12, 2025) and for EIDL (deadline December 15, 2025). The interest rate shown for nonprofit organizations—both with and without credit available elsewhere for physical damage and for EIDL without other credit—is 3.250%.
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