Louisville, Kentucky, November 19, 2025
In response to the recent UPS plane crash, Governor Andy Beshear has announced that the U.S. Small Business Administration will provide Economic Injury Disaster Loans to assist Kentucky businesses impacted by the tragedy. This financial support aims to help businesses in Jefferson, Bullitt, Hardin, Oldham, Shelby, and Spencer counties recover from the significant economic fallout caused by the crash, which resulted in multiple fatalities and injuries. The loans, available for up to $2 million, will cover essential operating expenses for affected businesses.
Governor Beshear Announces Disaster Loans for Kentucky Businesses
Support for Small Businesses in the Aftermath of the UPS Plane Crash
Louisville, Kentucky – Following the recent tragic UPS plane crash on November 4, 2025, Governor Andy Beshear has announced that the U.S. Small Business Administration (SBA) has granted Kentucky’s request for a disaster declaration. This declaration is a critical lifeline for businesses affected by the incident, allowing them to apply for Economic Injury Disaster Loans (EIDLs) aimed at facilitating recovery efforts in Jefferson, Bullitt, Hardin, Oldham, Shelby, and Spencer counties.
The crash, which resulted in the loss of 14 lives—including three crew members and 11 citizens—and left 18 others injured, has caused considerable damage to local businesses, particularly in the Grade Lane area. With the SBA disaster declaration now in place, eligible businesses will have access to much-needed financial support to rebuild and recover.
Understanding the SBA Economic Injury Disaster Loans
The SBA EIDLs are designed to provide financial relief to small businesses, agricultural cooperatives, nurseries, and private nonprofit organizations directly impacted by the disaster. These loans can cover essential operating expenses such as fixed debts, payroll, accounts payable, and other bills that may have been due but unpaid due to the crash’s economic fallout.
Each loan can extend up to $2 million, with interest rates set at 4% for small businesses and 3.625% for nonprofits. Repayment terms can extend up to 30 years, making it a viable option for businesses needing to restructure their financial obligations while grappling with the aftermath of this tragedy.
How to Apply for Assistance
The Importance of Community and Business Resilience
This disaster declaration is not just a financial reprieve; it signals a commitment to the resilience of Kentucky’s small-business sector. Governor Beshear highlighted that the loans are essential for fostering recovery within the community, emphasizing the unwavering spirit of local entrepreneurs who strive to overcome adversity.
By providing this type of support, the SBA is promoting not only recovery but also renewal and growth. In the wake of such tragic events, small-business owners in affected areas are reminded of the strength that can be drawn from community ties and collective effort.
Market Response and Implications for UPS
The implications of the crash extend beyond just the affected businesses and the local economy. United Parcel Service, Inc. (UPS) has seen its stock price fluctuate following the event, closing recently at $92.83, with a slight decrease from the previous day. The market is watching closely how this event might shape UPS’s operations and its commitment to safety and reliability in the future.
Conclusion: A Call to Action for Community Support
The SBA’s approval of disaster loans represents a significant step in supporting the recovery of businesses following the UPS plane crash. It is now more crucial than ever for the community to come together and support local businesses as they navigate these challenging times. Each purchase at a local establishment, each shared story of resilience, contributes to the rebuilding of a strong and dynamic local economy.
Stay engaged with the unfolding developments in Louisville’s recovery efforts, and consider supporting your local businesses, which are vital to our community’s economic health and vitality.
FAQ
What is the purpose of the SBA Economic Injury Disaster Loans?
The SBA EIDLs are designed to provide financial relief to small businesses, small agricultural cooperatives, nurseries, and private nonprofit organizations that have suffered financial losses directly related to the disaster.
What can the loans be used for?
These loans can be used to cover operating expenses, including fixed debts, payroll, accounts payable, and other bills that could have been paid had the disaster not occurred.
How much can businesses borrow?
Loan amounts can be up to $2 million, with interest rates of 4% for small businesses and 3.625% for private nonprofit organizations, and terms up to 30 years.
How can businesses apply for the disaster loans?
Applications for disaster loans can be submitted online through the MySBA Loan Portal at lending.sba.gov. The deadline to apply is August 17, 2026.
What support is available for businesses during this recovery period?
For further assistance, businesses can contact the SBA disaster assistance customer service center by email at [email protected] or by phone at 800-659-2955.
Key Features of the SBA Economic Injury Disaster Loans
| Feature | Details |
|---|---|
| Loan Amount | Up to $2 million |
| Interest Rates | 4% for small businesses, 3.625% for nonprofits |
| Terms | Up to 30 years |
| Eligible Applicants | Small businesses, agricultural cooperatives, nurseries, private nonprofits |
| Application Deadline | August 17, 2026 |
| Application Portal | MySBA Loan Portal at lending.sba.gov |
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