Trump said he would instruct the Small Business Administration (SBA), a government agency, "to exercise available authority to provide capital and liquidity to firms affected by the coronavirus". While it is necessary to do everything we can to slow the spread of COVID-19, we need help from the SBA to help reduce the burdens our small businesses are facing during this time.
The Indiana Economic Development Corporation is collecting small business economic impact data from every county in Indiana so that Governor Holcomb can declare an economic injury disaster.
These loans will help small businesses meet payroll; stay liquid during drops in customer demand or delayed payments; and look for alternatives or manage supply chain issues.
U.S. Rep. Elissa Slotkin is urging Michigan's small businesses to apply for Small Business Administration loans if they've taken a hit from the coronavirus crisis. With the exception of aquaculture enterprises, the SBA can not provide disaster loans to agricultural producers, farms and ranchers.
Relief is available to businesses in North Dakota. Florida businesses across the state are suffering substantial economic harm because of the pandemic outbreak. The interest rate for non-profits is 2.75%.
The form asks you to roughly estimate the impact you think Coronavirus could have on your business revenue over the next nine months and to compare that to revenue from the past nine months. Terms are determined on a case-by-case basis, based upon each borrower's ability to repay.
The U.S. Small Business Administration helps power the American dream of business ownership. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations.