Oh, the weather outside is frightful But federal aid is so delightful As far as those dollars go Let it snow, Let it snow, Let it snow.

Maryland small businesses that can demonstrate they suffered substantial economic hardship from a relatively snowless winter last year are eligible to apply for low-interest "economic dislocation loans" from the federal Small Business Administration, Gov. Harry Hughes announced yesterday.

Hughes was notified by telegram last week that Maryland had been added to a list of 13 states in which small businesses are eligible for no-snow relief.

Hughes had written the SBA earlier this year asking for assistance for small businesses whose livelihoods are tied to wet, white winters. According to the letter, ski lodges and other snow-related businesses suffered declines in business as high as 25 percent. Most such businesses are located in Western Maryland.

Only 56 inches of snow fell in Maryland's ski areas during the 1979-1980 season. Over the past 10 years snowfall in those areas has ranged from 45.7 inches to 107.7 inches.

Not only was the snowfall slight, but abnormally high temperatures often quickly melted and evaporated the light dusting of snow that did fall, Hughes' letter noted.

The loans are limited to $100,000 and carry an interest rate of 8 1/4 percent. Applications must be made by 4 p.m. Oct. 28 at SBA district offices in either Washington D.C. or Towson, MD.