The Spring severe weather season did not go easy on western Kentucky; the region was impacted by floods and tornadoes. Businesses and nonprofits that were affected by those disasters are still eligible for disaster loans from the U.S. Small Business Administration.
In April, parts of western Kentucky, including Christian County were impacted by historic levels of rainfall which resulted in flooding. Then in May, an EF-2 tornadoes touched down in Christian and Todd Counties.
Julie Garret with the administration shared that businesses impacted in any way by the severe weather can be eligible for Economic Injury Disaster Loans. Garrett says the loans aren’t only for businesses who experienced physical damages, but for those who might have lost a supplier or seen a dip in customers as a result of severe weather.
Administration members processing applications will examine the business’s financial records from before and after the severe weather event to determine the loan amount. Garrett says the loans allow businesses to keep up with their everyday expenses through the disaster recovery period.
The loans come with a 4% interest rate for businesses and 3.62% interest rate for nonprofits. Garrett says loan recipients do not have to start making payments until a year after the loan has been given.
Following the declaration of a disaster, Garrett says business owners have nine months to apply for loans. Those that were impacted by April’s severe weather have until January 26, 2026 to apply for a loan, and those impacted by May’s severe weather have until February 23, 2026 to apply. Loan applications are available at sba.gov.