North Central News

Small businesses can seek loans due to virus

If you have a small business that is suffering because of the economic impacts of the Coronavirus, you may apply for a low-interest loan.

The U.S. Small Business Administration (SBA) on its website said small business owners in all the states and U.S. territories are eligible to apply for such loans. You may apply at disasterloan.sba.gov/ela.

The SBA will work with governors in each state to offer targeted loans to small businesses and non-profit organizations that have been severely affected by the COVID-19. Its Economic Injury Disaster Loan program provides small businesses with working capital loans worth up to $2 million so they can offer needed economic support to small businesses to help overcome the temporary loss of revenue they are seeing.

 

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