Gov. Katie Hobbs this week announced financial relief is available to businesses that have been affected by the Dragon Bravo and White Sage fires.
Both fires started in July and have continued to burn. The Dragon Bravo Fire and the White Sage Fire were started due to lightning.
The Dragon Bravo Fire, currently the nation's largest wildfire, has burned 145,498 acres, while the White Sage Fire is 58,985 acres, according to a U.S. government website.
Firefighters have made progress on both blazes. As of Wednesday, the White Sage Fire was 98% contained, and the Dragon Bravo Fire was 62% contained.
The Dragon Bravo Fire is burning in the Grand Canyon’s North Rim. The White Sage Fire is burning in Fredonia, which is four miles from the Arizona-Utah border.
Because many Arizona businesses were affected by the fires, the U.S. Small Business Administration issued an Administrative Declaration of Economic Disaster for the state.
This federal government program allows eligible businesses and nonprofits to get low-interest-rate loans.
The SBA said these loans are for working capital needs resulting from the fires. It added these loans can be used to pay fixed debts, payroll and bills.
The 30-year loans can be up to $2 million with interest rates as low as 4% for businesses and 3.625% for nonprofits. With these loans, interest does not accrue, and due dates for payments to the SBA don't start until a year after the first loan disbursement.
