COVID-19 Update: SBA Relief for Economic Injury to Small Businesses

The U.S. Small Business Administration (SBA) has released information for small businesses and nonprofits to obtain low interest, 30-year loans to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact. The interest rate is 3.75% for small businesses without credit available elsewhere; businesses with credit available elsewhere are not eligible. The interest rate for nonprofits is 2.75%. Click HERE to read more on the SBA 3 Step Disaster Loan Process.

Details can be found here: https://www.sba.gov/funding-programs/disaster-assistance