SBA offers up to $2M in disaster loans after Grand Canyon flash floods

Arizona small businesses and non-profits affected by late summer flash flooding at the Grand Canyon can now apply for financial relief. The U.S. Small Business Administration has approved low-interest disaster loans for impacted businesses. Megan Spector joins us now with more on that. Megan. For small businesses at the Grand Canyon, it's one hit after another. After the Dragon Bravo fire devastated local business last summer, the recent flash flooding and trail closures that followed have left owners scrambling for a lifeline. It was a once-in-a-hundred-year fire, and it's been a once-in-a-hundred-year flood, and we've had them back-to-back. Deadly flash flooding ripped through the Grand Canyon in late August. Now federal disaster loans are available for business owners dealing with devastating financial losses. Last year, we didn't use it. We were able to get through without it. But this year, I mean, being hit back-to-back, we don't have much choice. Larry Innes owns Kaibab Lodge, a family business just a few miles outside the park's North Rim entrance. While the lodge itself has remained open, trail closures have caused a wave of cancellations. Winter hiker comes in so hard in advance. I mean, they just book us out, you know, and we probably lost 80% of our reservations. The dollar amount's a lot. It was in the millions of the cost to us. The SBA issued the disaster declaration following a request from Governor Katie Hobbs on October 8th. These loans offer up to $2 million to help cover operating expenses, payroll, and bills, even if a property did not suffer physical damage. Let's face it, businesses, nonprofits, I mean, people are hurting, and they need some support. And that's one of the ways the Office of Disaster Recovery provides that support. We still have to pay it back. It's money I've lost. I mean, if it's over a million dollars, I still have to pay that back. Still, it's critical help for businesses struggling to keep up with ongoing expenses. I've got, you know, 15 coaches and vans out here that are just setting. I have to still pay for those. I've got employees that are up here. I still have, you know, payments on owning the business. All of that keeps going on. So that would be used towards that and making sure we get into next year. Businesses have until July 13th, 2027 to apply for the loan. In studio, Megan Spector, Fox 10 News.