Hunterdon County announces Economic Injury Disaster Loans for small businesses, nonprofits affected by drought and heat

HUNTERDON COUNTY, NJ – Commissioner Zachary Rich is informing local small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and private nonprofit organizations about the availability of Economic Injury Disaster Loans (EIDLs) through the U.S. Small Business Administration (SBA) for those who experienced economic losses due to drought and excessive heat since June 25, 2024.

“We understand the significant challenges that small businesses and nonprofit organizations face due to unforeseen external and environmental factors. Drought and excessive heat can severely impact businesses, creating substantial economic hardship. The SBA Economic Injury Disaster Loans are a critical resource to help these entities recover and continue their vital work in our community,” Rich said.

Under the SBA loan declaration, which includes the primary counties of Hunterdon and Somerset, the EIDL program is available to eligible farm-related and nonfarm-related entities that suffered financial losses as a direct result of this disaster. However, aside from aquaculture enterprises, the SBA cannot provide disaster loans to agricultural producers, farmers, and ranchers. Nurseries are eligible to apply for loans for losses caused by drought conditions.

Eligibility is based on the applicant’s size, type of activity, and financial resources. These working capital loans can be used to pay fixed debts, payroll, accounts payable, and other bills that would have been paid had the disaster not occurred.

Loan amounts can reach up to $2 million, with interest rates of up to 4% for small businesses and 3.25% for private nonprofit organizations, with terms of up to 30 years. Interest does not accrue, and payments are not due until 12 months after the first loan disbursement. The SBA sets loan amounts and terms based on each applicant’s financial condition.

“I strongly encourage all eligible businesses and organizations to take advantage of this financial assistance and submit their loan applications promptly for review in order to secure future funding,” Rich said.

To apply online and receive additional disaster 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. Submit completed loan applications to the SBA no later than August 11, 2025.