Federal Disaster Assistance for Small Businesses

The U.S. Small Business Administration is offering low-interest federal disaster loans for working capital to North Carolina small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19), according to Small Business Administrator, Jovita Carranza.

“Small businesses, private non-profit organizations of any size, small agricultural cooperatives and small aquaculture enterprises that have been financially impacted as a direct result of the Coronavirus (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,” said Carranza.

“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. Disaster loans can provide vital economic assistance to small businesses to help overcome the temporary loss of revenue they are experiencing,” Carranza added.

The deadline to apply for an Economic Injury Disaster Loan is December 18, 2020.

For additional information about disaster assistance, please visit https://disasterloan.sba.gov/ela or contact the U.S. Small Business Administrator’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov.

For more information about available Small Business Administration resources and services, please visit: SBA.gov/coronavirus.