Low-interest federal loans are now available in 31 California counties to help small businesses impacted by the decision to cancel this year’s commercial Chinook salmon season. The Pacific Fishery Management Council canceled the 2023 fishing season back in April, and on Nov. 29 the U.S. Small Business Administration declared a disaster, which allows the government to offer financial assistance to small businesses that have suffered economic hardships as a result of the cancelation. … The 4 percent-interest-rate loans are for small businesses while there are 2.375 percent loans for private nonprofit organizations.  The loans feature terms of up to 30 years and are restricted to small businesses without the financial ability to offset the adverse impact without hardship, according to Sonoma County officials.

Related article: 

• Sonoma County Gazette: SBA offers loans to Sonoma County businesses impacted by salmon fishery closure