Nantucket businesses and non-profits affected by the ongoing drought may soon receive financial relief. The U.S. Small Business Administration (SBA) announced the availability of low-interest federal disaster loans for eligible small businesses and private non-profits impacted by drought starting June 16.
Since 2026, Nantucket has been under a Level 2 “significant” drought, requiring the Wannacomet Water Company to impose water-use restrictions, including a ban on automatic irrigation. This has affected various island businesses, such as landscaping, pool maintenance, and marine-related sectors.
The loans are designed to assist with operational expenses due to the drought and related restrictions. Eligible applicants can receive up to $2 million, with interest rates starting at 4% for businesses and 3.625% for non-profits. Loan terms last up to 30 years, with no interest or payments required in the first year.
The application deadline is April 26, 2027. For more information or to apply, visit the SBA website or contact the SBA Customer Service Center at 800-659-2955 or via email at disastercustomerservice@sba.gov.
