The U.S. Small Business Administration (SBA) is offering low-interest federal disaster loans for working capital to small businesses in your state that are suffering substantial economic loss as a result of the Coronavirus (COVID-19).

The attached press release (English & Spanish) will outline the details on the presidential declaration that makes SBA assistance available for the entire state as requested by the governor. Additionally, forward to any affiliated outlets as necessary.

Please share with your local contacts and the community (online, social media, etc.). SBA appreciates your assistance in getting this very important time sensitive message out to the business community. We will continue to provide updated information as it becomes available.

Eligibility for Economic Injury Disaster Loans is based on the financial impact of the Coronavirus (COVID-19). The interest rate is 3.75 percent for small businesses. The interest rate for private non-profit organizations is 2.75 percent. SBA offers loans with long-term repayments in order to keep payments affordable, up to a maximum of 30 years and are available to entities without the financial ability to offset the adverse impact without hardship.

Applicants may apply online, receive additional disaster assistance information and download applications at https://disasterloan.sba.gov/ela.  Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov  for more information on SBA disaster assistance. Individuals who are deaf or hard of hearing may call (800) 877-8339. For complete details on SBA, visit www.sba.gov.

SBA Customer Service Representatives will be available to answer questions about SBA’s Economic Injury Disaster Loan program and explain the application process at 1-800-659-2955.