In January, we had a representative of the Small Business Administration visit our C3 group. Desiree gave us all sorts of information about the resources SBA has for small businesses. She didn’t talk about Covid-19 being a disaster for our region at the time; but an economic disaster is what this is turning into for some businesses in Washington. Now it sounds as if there is a possibility that the SBA might be able to help out small businesses with the disaster loan program.
The SBA will work directly with state Governors to provide targeted, low-interest loans to small businesses and non-profits that have been severely impacted by the Coronavirus (COVID-19). The SBA’s Economic Injury Disaster Loan program provides small businesses with working capital loans of up to $2 million that can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing.
- Find more information on the SBA’s Economic Injury Disaster Loans at: SBA.gov/Disaster.
Please note that details of eligibility and administration of this emergency assistance from SBA are still being determined, but here is a link to a form that can get the ball rolling.