RAPID CITY, S.D. – The U.S. Small Business Administration announced the availability of low-interest federal disaster loans for eligible small businesses and private nonprofit organizations impacted by drought conditions starting Aug. 11 and continuing.

The Economic Injury Disaster Loan program provides working capital assistance for operational expenses caused by the disaster, up to $2 million in loan funding. Interest rates are set as low as 4 percent for small businesses and 3.625 percent for private nonprofit organizations, with loan terms extending up to 30 years. No interest or payments are due for the first 12 months following loan disbursement.

Eligible entities include small businesses, private nonprofits, faith-based organizations, small agricultural cooperatives, nurseries, and small aquaculture enterprises.

The declaration covers multiple counties across the region, including Pennington County, where Rapid City is located, alongside Butte, Campbell, Corson, Dewey, Haakon, Harding, Meade, Perkins, Stanley, Walworth, and Ziebach counties in South Dakota. It also covers Carter and Fallon counties in Montana, as well as Adams, Bowman, Emmons, and Sioux counties in North Dakota.

Applicants can complete registration online at sba.gov/disaster before the May 3, 2027 application deadline. Questions regarding applications can be directed to the SBA Customer Service Center by phone at (800) 659-2955 or by email at disastercustomerservice@sba.gov, while individuals who are deaf, hard of hearing, or have a speech disability can dial 7-1-1 for relay services.