Massachusetts businesses gain access to SBA disaster loans after February blizzard

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SBA loans for MA blizzard

Highlights

The SBA declared disaster coverage for Feb. 22–27 blizzard, enabling Economic Injury Disaster Loans for businesses in seven Massachusetts and three Rhode Island counties.
Eligible small businesses and nonprofits can borrow up to $2 million with interest rates as low as 4% and 3.625% respectively, deferred for 12 months.
SBA recovery centers in affected Massachusetts counties will open June 18 and June 24, with a final economic injury application deadline of March 12, 2027.

Loan terms and eligible areas

As announced by the U.S. Small Business Administration, the disaster declaration covers the Massachusetts counties of Barnstable, Bristol, Dukes, Nantucket, Norfolk, Plymouth, and Suffolk, along with the Rhode Island counties of Bristol, Newport, and Providence for Economic Injury Disaster Loans.

Under the declaration, eligible small businesses, small agricultural cooperatives and private nonprofit organizations, including faith-based groups, can seek assistance for financial losses directly tied to the Feb. 22 to 27 blizzard. The SBA cannot provide disaster loans to agricultural producers, farmers or ranchers, except for aquaculture enterprises.

The loans are available for working capital needs caused by the disaster, even when an applicant did not sustain physical damage. Funds may be used for fixed debts, payroll, accounts payable and other bills that could not be paid because of the disruption.

The loan amount can reach $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, while final loan amounts and terms depend on each applicant's financial condition.

Recovery support and regional business impact

Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA, says the loans help eligible businesses and private nonprofits cover operating expenses after a disaster and support local economic recovery in affected communities.

SBA customer service representatives are due to be available on Thursday, June 18 and Wednesday, June 24 at SBA Business Recovery Centers in Barnstable, Bristol, Dukes and Plymouth counties to answer questions, explain the application process and help applicants complete forms. Walk-ins are accepted, and in-person appointments can also be scheduled in advance at appointment.sba.gov.

The filing deadline to return economic injury applications is March 12, 2027.

Massachusetts’ top U.S. economy ranking highlighted the state’s innovation-driven strength, supported by a large tech footprint, strong R&D intensity, and leading universities. In our earlier article, we also noted that despite this economic leadership, the state faces ongoing pressures such as affordability challenges and inequality that can strain households and smaller employers.

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