• SBA Disaster Assistance for Businesses

    SBA Disaster Assistance in Response to the Coronavirus

    •   The U.S. Small Business Administration is offering designated states and territories 
    low-interest federal disaster loans for working capital to small businesses suffering substantial 
    economic injury as a result of the Coronavirus (COVID-19). 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.

    •    Any such Economic Injury Disaster Loan assistance declaration issued by the SBA makes loans 
    available to small businesses and private, non-profit organizations in designated areas of a state 
    or territory to help alleviate economic injury caused by the Coronavirus (COVID-19).

    •   SBA’s Office of Disaster Assistance will coordinate with the state’s or territory’s Governor to 
    submit the request for Economic Injury Disaster Loan assistance.

    •   Once a declaration is made for designated areas within a state, the information on the 
    application process for Economic Injury Disaster Loan assistance will be made available to all 
    affected communities as well as updated on our website: SBA.gov/disaster.

    • SBA’s Economic Injury Disaster Loans offer up to $2 million in assistance per small business and 
    can provide vital economic support to small businesses to help overcome the temporary loss of 
    revenue they are experiencing.

    •    These loans may be used 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 non-profits is 2.75%.

    •   SBA offers loans with long-term repayments in order to keep payments affordable, up to a 
    maximum of 30 years. Terms are determined on a case-by-case basis, based upon each borrower’s 
    ability to repay.

    •   SBA’s Economic Injury Disaster Loans are just one piece of the expanded focus of the federal 
    government’s coordinated response, and the SBA is strongly committed to providing the most 
    effective and customer-focused response possible.

    •   For additional information, please contact the SBA disaster assistance customer service center. 
    Call 1-800-659-2955 (TTY: 1-800-877-8339) or e-mail disastercustomerservice@sba.gov.

    •     Visit SBA.gov/disaster for more information.