Businesses and non-profits may qualify for SBA loans

VICKSBURG, Miss. (VDN) — The U.S. Small Business Administration (SBA) is offering low interest loans to Vicksburg and Warren County small businesses and non-profits who have suffered economic losses due to the inclement weather which hit the state in March 2025.

Although, Warren County was not directly affected by the strong winds, hail, flooding and tornadoes, the county is considered contiguous and local businesses and non-profits may be eligible if economic injury can be shown.

According to SBA, the Economic Injury Disaster Loans (EIDL) are working capital loans to help small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private, non-profit organizations of all sizes meet their ordinary and necessary financial obligations which cannot be met as a direct result of the disaster. The loans are available in amounts up to $2 million. These loans are intended to assist through the disaster recovery period. The deadline for filing is Monday, Feb. 23, 2026.

To be eligible for the EIDL, applicants must have a credit history acceptable to the SBA and show the ability to repay the loans. However, SBA works closely with applicants and have a variety of resources to help increase poor credit scores in order to help an applicant become eligible for the loans.

The interest rates for EIDL loans are a fixed rate of 4.00 percent for businesses and small agricultural cooperatives. For non-profit organizations the interest rate is 3.625 percent. As a stipulation of the loans, applicants must show they do not have credit available from other financial institutions.

Interest does not begin to accrue, and payments are not due, until 12 months from the date of the first loan disbursement. Terms for repayment are available for up to 30 years. The SBA sets loan amounts and terms, based on each applicant’s financial condition.

SBA requires email addresses and contact information for all applicants, Social Security numbers and Employer Identification Numbers for all applicants, financial information (e.g., income and monthly expenses, etc.), a complete copy of the most recent federal income tax return, and any insurance information, if available.

In person application service centers provided by the Federal Emergency Management Agency (FEMA) are opened currently on a week-to-week basis in the following areas:

• Duck Hill Volunteer Fire Department, 255 State Street, Duck Hill 38925 (Montgomery County), Monday – Friday 8:30 a.m. 4:30 p.m.

• Grenada Emergency Office Center, 368 Van Dorn Street, Grenada, MS, 38901, (Grenada County), Monday – Friday 9 a.m. – 5 p.m.

• Granby Volunteer Fire Department, 956 E Saint Stephens Rd., Prentiss, MS 39474  (Jefferson Davis County), hours of operation are Thurs & Friday 9 a.m. – 5 p.m.

• (Tentative) Walthall Emergency Management Agency, at 908 Armory Rd., Tylertown, MS 39667  (Walthall County), hours of operation are Monday & Tuesday 9 a.m. – 5 p.m.

To apply online, 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.