Coconino County announced Tuesday afternoon that it had submitted an application for the Economic Injury Disaster Loan (EIDL) program to the Arizona Department of Emergency and Military Affairs (DEMA) for review after the Pocket Fire caused economic injury to local businesses.
The EIDL program provides 30-year loans with an interest rate capped at 4% to affected businesses. Principal and interest payments are not required in the first year of the loan to help businesses survive the loss of tourism. The EIDL program, if awarded, would be available to all businesses in Coconino County, as well as neighboring Yavapai, Mohave, Gila and Navajo counties, San Juan and Kane counties in Utah and Tribal Nations.
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