SBA Economic Injury Disaster Assistance Granted for all 77 Counties
Governor Kevin Stitt today announced the U.S Small Business Administration (SBA) has approved the State's request for an Economic Injury Disaster Loan Declaration for all 77 counties.
Businesses and non-profit organizations impacted by COVID-19 are now eligible for low-interest disaster loans through SBA. The application and more information is available at SBA.gov/disaster.
This program is designed to help small businesses and most private non-profitsofany size. To qualify, businesses and non-profits must have a physical presence in the state, must have suffered or are likely to suffer substantial economic injury as a result of COVID-19, must be independently owned and operated, must not have credit available elsewhere, and must meet size standards required by SBA.
The 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. The funding for this program is This funding is provided by the Coronavirus Preparedness and Response Supplemental Appropriations Act.
Governor Stitt requested the SBA declaration on March 17.