Subscribe

Feds offer disaster-relief loans for small businesses hurt by coronavirus

The "Follow This Story" feature will notify you when any articles related to this story are posted.

When you follow a story, the next time a related article is published — it could be days, weeks or months — you'll receive an email informing you of the update.

If you no longer want to follow a story, click the "Unfollow" link on that story. There's also an "Unfollow" link in every email notification we send you.

This tool is available only to subscribers; please make sure you're logged in if you want to follow a story.

Please note: This feature is available only to subscribers; make sure you're logged in if you want to follow a story.

Subscribe

How to apply for an SBA disaster loan

Online: disasterloan.sba.gov/ela

Phone: 800-659-2955 (Hearing impaired: 800-877-8339)

Email: disastercustomerservice@sba.gov

Application deadline: Dec. 16

Mail completed applications to:

U.S. Small Business Administration

Processing and Disbursement Center

14925 Kingsport Road

Fort Worth, TX 76155

Source: U.S. Small Business Administration


Read more coverage of efforts to stop the spread of COVID-19 and it's impact on business.

The U.S. Small Business Administration is offering low-interest federal disaster loans to small businesses in the state economically impacted by COVID-19, the agency announced March 16.

Under a disaster declaration, the SBA’s San Francisco district office is offering assistance to businesses in numerous Northern California counties, including the North Bay area’s six-county region: Napa, Sonoma, Marin, Solano, Mendocino and Lake counties.

The interest rate is 3.75% for small businesses, and 2.75% for private nonprofit organizations, according to the SBA. The loans provide long-term repayments, up to a maximum of 30 years, the agency said.

“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,” SBA Administrator Jovita Carranza said in the announcement.

“Small businesses, private nonprofit organizations of any size, small agricultural cooperatives and small aquaculture enterprises that have been financially impacted as a direct result of COVID-19 since Jan. 31, 2020, 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,” Carranza said.

According to the release, SBA acted under its own authority as provided by the Coronavirus Preparedness and Response Supplemental Appropriations Act. President Trump signed the Act declaring a disaster following a March 13 request from Gov. Gavin Newsom’s office.

The deadline to apply for an Economic Injury Disaster Loan is Dec. 16, 2020.

How to apply for an SBA disaster loan

Online: disasterloan.sba.gov/ela

Phone: 800-659-2955 (Hearing impaired: 800-877-8339)

Email: disastercustomerservice@sba.gov

Application deadline: Dec. 16

Mail completed applications to:

U.S. Small Business Administration

Processing and Disbursement Center

14925 Kingsport Road

Fort Worth, TX 76155

Source: U.S. Small Business Administration


Read more coverage of efforts to stop the spread of COVID-19 and it's impact on business.

Show Comment

Our Network

Santa Rosa Press Democrat
Sonoma Index-Tribune
Petaluma Argus Courier
Sonoma Magazine
Bite Club Eats
La Prensa Sonoma
Emerald Report
Spirited Magazine