Take advantage of available COVID-19 resources for struggling business and employees:
Economic Injury Disaster Loans
- Administered by the U.S. Small Business Administration (SBA).
- Up to $2 million in assistance to small businesses to help overcome a temporary loss of revenue.
- May be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact.
- Interest rate is 3.75% for small businesses without credit available elsewhere; businesses with credit available elsewhere are not eligible. The interest rate for non-profits is 2.75%.
- Long-term repayments up to 30 years. Terms determined on a case-by-case basis, based upon each borrower’s ability to repay.
- Businesses may obtain information and loan applications at 1-800-659-2955 (1-800-877-8339 for the hearing impaired) or firstname.lastname@example.org.
- Loan applications can also be downloaded at the SBA disaster assistance website. Applicants may apply online using the Electronic Loan Application (ELA) via the SBA’s secure website at SBA disaster loan assistance. Completed applications should be returned to the local DLOC or mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
- Application deadline Dec. 21, 2020.