Florida small businesses and nonprofits hurt by this winter’s cold snap can now apply for federal disaster relief loans through the U.S. Small Business Administration.

Frost and freeze conditions beginning at the end of January prompted a disaster declaration covering several counties statewide, including in the Tampa Bay area. The state estimates the freezes caused more than $3 billion in agricultural losses.

The SBA’s Economic Injury Disaster Loan program is available to eligible small businesses, small agricultural cooperatives, nurseries, and private nonprofits that experienced financial losses directly tied to the disaster — even if they suffered no physical damage. Agricultural producers, farmers, and ranchers are generally not eligible, except for aquaculture enterprises.

Loans can be up to $2 million, with interest rates as low as 4% for small businesses and 3.625% for private nonprofits, and terms of up to 30 years. Interest does not accrue and payments are not due until 12 months after the first loan disbursement.

SBA Public Affairs Specialist Kameron Mitchell said the loans are intended to help businesses cover everyday operating costs — such as payroll and inventory — while they recover. Eligible borrowers may also qualify for an additional mitigation loan to help reduce the risk of future damage.

The application deadline is November 4, which Mitchell said gives businesses enough time to fully assess the financial impact of the weather event on their books.

Businesses can apply online at sba.gov/disaster or by calling the SBA Customer Service Center at (800) 659-2955.

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