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Coronavirus (COVID-19): Small Business Guidance & Loan Resources



Small business owners in all U.S.states, Washington D.C., and territories are currently eligible to apply for a long term low-interest loan due to Coronavirus (COVID-19) [ [link removed] ].

The SBAs Economic Injury Disaster Loan program provides small businesses with working capital loans of up to $2 million that can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing.

You can apply for disaster assistance online or via mail. For questions, please contact the Customer Service Center at 1-800-659-2955 or (TTY) (800) 877-8339.

*Apply for disaster assistance [ [link removed] ]*

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Jovita Carranza
Carranza Implements Automatic Deferment on Existing SBA Disaster Loans Through End of 2020

On Monday, U.S. Small Business AdministrationAdministrator Jovita Carranzaannounced changes to help borrowers still paying back SBA loans from previous disasters. By making this change, deferments through December 31, 2020, will be automatic. Now, borrowers of home and business disaster loans do not have to contact SBA to request deferment.

To that end, the SBA is relaxing the criteria through which states or territories may formally request an economic injury declaration, effective immediately.

The SBA is looking at every option and taking every action to cut red tape to make it easier for small businesses to stay in business. Automatically deferring existing SBA disaster loans through the end of the year will help borrowers during this unprecedented time,said Administrator Carranza.

Todays announcement adds a list of growing actions the SBA is taking to support small businesses. These actions include making it easier for states and territories to request a declaration so small businesses statewide can now apply for economic injury disaster loans, and changing the terms of new economic injury loans to allow for one-year deferments. We are working around the clock to find ways to assist small businesses and todays action is one step in this process.

*Read the full press release [ [link removed] ]*


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Federal Coronavirus Resources

State, local, and federal agencies are working together to maintain the safety, security, and health of the American people. Check out coronavirus.gov [ [link removed] ] for updates from the White House'sCoronavirus (COVID-19) Task Force.Go to cdc.gov [ [link removed] ] for detailed information about COVID-19 from the Centers for Disease Control and Prevention.

*Learn more about the federal government's response [ [link removed] ]*


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New Options forSBA Express

Have you previously worked with an SBA Express Lender for small business? You may qualify for an Express Bridge Loan to help you overcome temporary loss of revenue. These loans can help you overcome the temporary loss of revenue you are experiencing and can be a term loan or used to bridge the gap while applying for an SBA Economic Injury Disaster loan.

*Learn more [ [link removed] ]*


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Virtual Mentoring and Training

Offices around the country may be closed to the Coronavirus pandemic, but SCORE, Small Business Development Centers,Womens Business Centers, and Veterans Business Outreach Centers and other resource partners are providing free business mentoring and training by phone, email, and video.

*Find an SBA resource partner near you [ [link removed] ]*


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SBA District and Regional Office Webinars on Disaster Assistance

SBA district and regional offices are offering webinars about Economic Injury Disaster Loans.

These webinars explain SBA's Economic Injury Disaster Loan program and how you can apply for disaster assistance.

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