SBA offers disaster assistance for impacted small businesses
ATLANTA – The U.S. Small Business Administration is offering low-interest federal disaster loans for working capital to Minnesota small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19), SBA Administrator Jovita Carranza announced last week. SBA acted under its own authority, as provided by the Coronavirus Pre-paredness and Response Supplemental Appropriations Act that was recently signed by the president, to declare a disaster following a request received from Gov. Tim Walz on March 18.
The disaster declaration makes SBA assistance available in the entire state of Minnesota; and the contiguous counties in surrounding states.
“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,” Carranza said.
SBA customer service representatives will be available to answer questions about SBA’s Economic Injury Disaster Loan program and explain the application process.
Visit https://disasterloan.sba.gov/ela to download applications and apply. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email firstname.lastname@example.org 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. 21, 2020.
For more information about Coronavirus, please visit: Coronavirus.gov. For more information about available SBA resources and services, please visit: SBA.gov/coronavirus.