Low-Interest SBA Disaster Loans Available for Maryland Businesses Hit by Recent Heatwaves

Washington, D.C. – The U.S. Small Business Administration (SBA) announced that Economic Injury Disaster Loans (EIDLs) are available in Maryland for small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private nonprofit organizations with economic losses due to the drought and excessive heat that began on June 6 through Oct. 22. 

The declaration includes the primary county of Talbot, and the adjacent counties of Caroline, Dorchester, and Queen Anne's in Maryland.

Under this declaration, the SBA’s EIDL program is available to eligible farm-related and nonfarm related entities that suffered financial losses as a direct result of this disaster. Apart from aquaculture enterprises, SBA cannot provide disaster loans to agricultural producers, farmers, and ranchers. Nurseries are eligible to apply for economic injury disaster loans for losses caused by drought conditions. 

The loan amount can be up to $2 million with interest rates of 4% for small businesses and 3.25% for private nonprofit organizations, with terms up to 30 years. Interest does not accrue, and payments are not due, until 12 months from the date of the first loan disbursement. The SBA sets loan amounts and terms based on each applicant’s financial condition. Eligibility is based on the size of the applicant, type of activity and its financial resources. These working capital loans may be used to pay fixed debts, payroll, accounts payable, and other bills that could have been paid had the disaster not occurred.

Applicants are encouraged to submit their loan applications promptly for review in anticipation of future funding. To apply online and receive additional disaster assistance information visit sba.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. 

For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services. 

Submit completed loan applications to the SBA no later than July 28, 2025.

For media inquiries, please contact Anna Adamian at Anna.A@mail.house.gov