The U.S. Small Business Administration announced the availability of low interest federal disaster loans to small businesses and private nonprofit organizations in Florida that sustained economic losses caused by the drought beginning Feb. 11. The disaster declaration covers the primary counties of Glades, Hendry, Martin, and Palm Beach, and the adjacent counties of Broward, Charlotte, Collier, DeSoto, Highlands, Lee, Okeechobee and St. Lucie. The SBA is unable to provide disaster loans to agricultural producers, farmers or ranchers, except for aquaculture enterprises. Disaster loans are available for working capital needs caused by the disaster and are available even if the small business or private nonprofit did not suffer any physical damage. The loans may be used to pay fixed debts, payroll, accounts payable and other bills not paid due to the disaster. The loan amount can be up to $2 million with interest rates as low as 4% for small businesses and 3.625% for private nonprofits, with terms up to 30 years. Interest does not accrue, and payments are not due until 12 months from the date of the first loan disbursement. To apply, click here.