News

Print
Press Enter to show all options, press Tab go to next option

SBA - Disaster Loan Assistance

Post Date:04/01/2020

SBA Economic Injury  Disaster Loan- These working capital loans do not have to be paid back.  Funding may be used only to pay fixed debts, payroll, accounts payable, and other bills that could have been paid had the disaster not occurred. The loans are not intended to replace lost sales or profits or to pay for expansion. Funds cannot be used to paydown long-term debt. They also cannot be used to consolidate debt.

To apply for a COVID-19 Economic Injury Disaster Loan, click here.

In response to the Coronavirus (COVID-19) pandemic, small business owners in all U.S. states, Washington D.C., and territories are eligible to apply for an Economic Injury Disaster Loan advance of up to $10,000.

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. The loan advance will provide economic relief to businesses that are currently experiencing a temporary loss of revenue. Funds will be made available within three days of a successful application, and this loan advance will not have to be repaid.

 

COVID - Virginia SBDC - SBA Loan Overview (002)_Page_1

Return to full list >>