SBA to provide up to $2 Million in disaster assistance loans
Small Business Administration Administrator Jovita Carranza said Thursday the agency will provide up to $2 million in disaster relief loans for small businesses affected by the coronavirus disease (COVID-19).
“Small businesses are vital economic engines in every community and state, and they have helped make our economy the strongest in the world. Our Agency will work directly with state Governors to provide targeted, low-interest disaster recovery loans to small businesses that have been severely impacted by the situation,” she said. “Additionally, the SBA continues to assist small businesses with counseling and navigating their own preparedness plans through our network of 68 District Offices and numerous Resource Partners located around the country. The SBA will continue to provide every small business with the most effective and customer-focused response possible during these times of uncertainty.”
The process for accessing SBA’s COVID-19 Disaster Relief Lending:
- Upon a request received from a state’s or territory’s Governor, SBA will issue under its own authority, as provided by the Coronavirus Preparedness and Response Supplemental Appropriations Act that was recently signed by the President, an Economic Injury Disaster Loan declaration.