SACRAMENTO, Calif. – The U.S. Small Business Administration announced Tuesday they are now offering low-interest federal disaster loans for working capital to Washington small businesses suffering substantial economic injury as a result of the Coronavirus.
An announcement says that small businesses of any size that have been financially impacted as a direct result of the Coronavirus since January 31 may qualify for Economic Injury Disaster Loans of up to $2 million to help meet financial obligations and operating expenses which could have been met had the disaster not occurred.
The loans can 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, and 2.75% for private non-profit organizations.
Wednesday morning at 10:30am, Representative Derek Kilmer will be hosting a live conference call/webinar for small businesses throughout the region to talk about the state and federal resources available to them – and to hear first-hand how he can further help.
Applicants may apply for loans online at
https://disasterloan.sba.gov/ela. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email email@example.com for more information on SBA disaster assistance. Individuals who are deaf or hard‑of‑hearing may call (800) 877-8339.
Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
The deadline to apply for an Economic Injury Disaster Loan is Dec. 16, 2020.
For more information about available SBA resources and services, please visit: SBA.gov/coronavirus.