Portland-area small businesses that lost revenue during Oregon's record wildfire season can apply for up to $2 million in low-interest federal loans, even if their buildings never burned.

The U.S. Small Business Administration (SBA) opened Economic Injury Disaster Loans (EIDL) for businesses and nonprofits in 25 Oregon counties, including Multnomah County. The agency issued the disaster declaration Oct. 2 after Gov. Tina Kotek requested it Sept. 29, the SBA said in a press release.

The key detail: applicants do not need to prove property damage. Eligibility is based on financial losses caused by severe storms and wildfires that struck between July 15 and Aug. 24.

That distinction matters for Portland businesses that never saw flames but still felt the hit. Restaurants lost customers when residents evacuated. Hotels saw bookings drop when visitors canceled trips. Outdoor recreation companies lost revenue when smoke or fire closed popular destinations, The Oregonian reported.

Loan terms

Interest rates start at 4% for businesses and 3.625% for private nonprofits. Repayment terms extend up to 30 years. Borrowers owe no payments and accrue no interest for the first 12 months after receiving funds.

The loans can cover payroll, rent, fixed debts and other operating expenses that became harder to pay after revenue fell. The SBA sets each loan amount based on the applicant's financial condition; $2 million is the ceiling, not a guarantee.

Chris Stallings, the SBA's associate administrator of the Office of Disaster Recovery, said the loans "not only help business owners get back on their feet but also play a key role in sustaining local economies in the aftermath of a disaster."

Who qualifies

Eligible applicants include small businesses, small agricultural cooperatives and private nonprofits, including faith-based organizations. The SBA excludes most farmers and ranchers, though aquaculture enterprises may apply.

The declaration covers 25 Oregon counties: Baker, Clackamas, Crook, Deschutes, Gilliam, Grant, Harney, Hood River, Jefferson, Klamath, Lake, Lane, Linn, Malheur, Marion, Morrow, Multnomah, Sherman, Umatilla, Union, Wallowa, Wasco, Washington, Wheeler and Yamhill. Neighboring counties in Idaho and Washington are also included.

Scale of the season

Oregon's 2026 wildfire season burned more than 2.1 million acres, a state record, according to data from the Northwest Coordination Center as reported by the Idaho Business Review. Suppression costs hit an estimated $1.4 billion.

The losses were statewide. Oregon lawmakers approved nearly $123 million in additional wildfire funding and authorized $150 million in short-term Treasury borrowing to cover expenses while awaiting federal reimbursements, according to TIME.

How to apply

The deadline is July 1, 2027. Businesses and nonprofits can apply online at sba.gov/disaster, call the SBA at (866) 722-4357 (SBA-HELP) or email [email protected]. People who are deaf or hard of hearing can dial 7-1-1 for relay services.