Trying to find a small business loan due to the coronavirus…

ryan asked 3 months ago
1 Answer
Brittany Staff replied 3 months ago
Hi Ryan,

Small businesses and non profits impacted by the economic downturn caused by the coronavirus pandemic can apply for the SBA Coronavirus Relief Loan.

In order to be eligible for the loan, your governor must first declare your state or territory as impacted. I'm not sure where your business is located, but you can search the list of eligible states here:

sba.gov
or
https://www.zenefits.com/workest/a-master-list-of-states-and-counties-eligible-for-sba-coronavirus-relief-loans/

Once your governor has made a declaration you can then apply for the loan at sba.gov

Only small businesses and nonprofits that are unable secure other loan funding will qualify. A business can receive up to $2 million and the interest rate will be 3.75% for SMBs and 2.75% for non profits.

For more information on the loan program visit sba.gov/coronavirus or call SBA’s Customer Service Center at (800) 659-2955.

I hope you find this helpful! Best of luck to you.